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China’s appetite for soybeans from around the globe has slowed compared with a year ago, reports AgWeb.
Is the fading demand a factor of the trade war? Or, has the more than 100 cases of African swine fever in 23 provinces played a role? Ken Smithmier, director of research, agricultural markets for ClipperData, says we’ll know the answer in a few months.
“Some believe it’s China using their domestic stocks, and they’re going to have to reload on those inventories come this spring, which that opinion is one I share,” he says.
The answer will come this spring, when Brazil’s soybeans are harvested and China’s demand typically picks up.
