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China Expects Higher Soybean, Corn Imports For 2019/20 On Rise In US Cargoes

Published on Jul 10 2020 2:19 PM in Supply Chain tagged: Trending Posts / China / US / Corn / soybean

China Expects Higher Soybean, Corn Imports For 2019/20 On Rise In US Cargoes

China said on Friday that it predicted higher corn and soybean imports for 2019/20, as the country was expected to step up purchases from the United States to fulfill the Phase 1 trade deal.

Corn imports for the crop year that ends in September are now seen at 6 million tonnes, up 2 million tonnes from last month's forecast, the ministry of agriculture and rural affairs said in its monthly crop report.

The ministry also raised its forecast for China's 2019/20 soybean imports to 94 million tonnes, up 3 million tonnes from its estimate in the previous month, according to the monthly Chinese Agricultural Supply and Demand Estimates (CASDE).

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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