BEIJING, CHINA — Through July, China’s soybean imports are up 18% compared to a year ago, as large volumes arrived from Brazil, Reuters said.
China imported 10.09 million tonnes of soybeans in July, up from 8.63 million tonnes a year ago. It was below June’s record of 11.16 million tonnes, according to customs data.
Exports from Brazil have increased as weather improved after March. Brazil’s record high soybean output coupled with currency depreciation has made soybeans cheap and crush margins strong, according to one analyst.
