China Imports Record Volume Of Soybeans In June

China imported a record 6.45 MMT of soybeans in June, according to the Chinese National Grains and Oils Information Centre (CNGOIC).

That is a phenomenal amount of soybeans which ever way you look at it.

Imports month are expected to fall back a bit for the next few months as their own soybean harvest approaches. Even so at 5 MMT in July, 4.5 MMT in August and 4 MMT in September they're still at historically high levels.

Also of note is that the US seems to be getting a larger slice of the cake this year. Normally US sales to China would have dwindled to next to nothing in the summer months as they switch their attention to cheaper South American beans.