China to import record amount of soybeans
As China works to rebuild its swine herd, the country is anticipated to import over 100 million tonnes of soybean in 2020, Reuters reported citing a COFCO grains trader.
About 92.6 million tonnes of soybeans is forecast to be crushed by China this year.
After an African swine fever outbreak, the country’s swine herd has bounced back to 90% of its normal levels, Reuters said. Soymeal demand is expected to remain strong.
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