Photo by Sarai Zuno

Mar 22, 2021

China Soybean Imports Down

New cases of African swine fever in recent months have caused concern about pork production and demand for soymeal

China Soybean Imports Down

  • China's total imports of soybeans in the first two months of 2021 fell 0.8% to 13.41 million tonnes.
  • China's soybean imports from Brazil fell sharply to 1.03 million tonnes in January/February, down nearly 80% from 5.14 million tonnes a year earlier.
  • Rain in Brazil has slowed the harvest and export, forcing some crushers in China to consider curbing operations.
  • Shipments from the US to China over the first two months of the year totalled 11.9 million tonnes, almost twice the 6.1 million last year.
  • China’s latest weekly soy crush was lower than expected at just over 1.4 million tonnes compared to 1.7 million in the previous week and last year.
  • Capacity utilization fell to 41% from 47.4% previous as the post holidays recovery remains slower than usual.

FBN’s Take On What It Means: China’s soybean usage was expected to keep increasing thanks to good crushing margins and healthy demand from a fast recovery in the livestock sector. However, new cases of African swine fever in recent months have caused concern about pork production and demand for soymeal. We still expect China to be an active buyer due to high domestic prices, which support prices in exporting countries.

FBN

FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory (NFA ID: 0508695)

The risk of trading futures and options can be substantial and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to, persons residing in Australia and Canada.

Kevin McNew

Recently Added to Buyer's Guide

VersaMix Triple Shaft Mixers

  • For mixing applications requiring efficient powder dispersion and critical homogenization of medium to high viscosity slurries, pastes, gels, creams and suspensions
  • High-shear mixer with solids/liquid injection manifold (SLIM) technology rotor/stator

GUC-F Controller

  • Multichannel feeding and dosing controller
  • Control solution for feeding and weighing applications in powder handling applications
  • Flexible and modular design with analog and digital load cells

ProFlo

  • Offers accurate and reliable continuous mass flow measurement of bulk solids with an accuracy of +/- 0.5% full scale
  • Measures mass of flowable solids with densities of 10 to 100 pounds/cubic foot and flow rates from 700 to 7,000 cubic feet/hour

Hydro-View

  • 10.1” touchscreen
  • Easy to install in new or existing systems

Sanderson Farms Feed Mill Expansion - Kinston, NC

  • Construction of a whole grain silo expansion (76’ diameter x 145’ tall) to hold 500,000 bushels
  • Expansion also includes a 12’x17’x22’ deep boot pit extension at the end of the existing receiving tunnel

Horizon Feed Ordering Automation Platform

  • Automates many processes within supply chain for efficient, sustainable and profitable production
  • Manage all bins and orders on a single software platform

Magazine

Marketwatch: Jan, 18

US Corn Price Idx: ZCPAUS.CM

open: 5.7667
high: 5.8486
low: 5.7266
close: 5.8288

US Soybean Price Idx: ZSPAUS.CM

open: 13.366
high: 13.376
low: 13.2328
close: 13.2696

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 7.3061
high: 7.3384
low: 7.2334
close: 7.2454

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 7.0114
high: 7.0566
low: 6.9566
close: 7.0014