China’s soybean stockpiles continue to rise
According to SunSirs, China’s National Grain and Oil Information Center, as of September 12, soybean inventories at China’s largest oil mills totaled 7.84 million tons, up 100,000 tons week-over-week, 340,000 tons month-over-month, and 2.13 million tons above the three-year average.
Soybean imports totaled 1.15 million tons in the two weeks of September, 140,000 tons higher than in August and 260,000 tons higher than the three-year average for the same period.
It was previously reported that China is increasing soybean reserves in case the trade war with the United States continues. In August, the country’s soybean inventories reached a record high of 6.8 million tons amid the trade war with the United States. In the month, China imported 12.28 million tons of soybeans, which became another record figure.
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