China Buying Major Soybean Tonnage from Russia 

China Buying Major Soybean Tonnage from Russia 

China Buying Major Soybean Tonnage from Russia

$SOY

China, the world’s biggest Soybean importer, almost 3X’s purchases from Russia during this current  trade dispute with the US, the world’s biggest producer of the Oil seed.

Russia sold about 850,000 tonnes of Soybeans to China in MY 2016-2017, according to Russia’s agriculture agency. That is more than during any season before and compares with about 340,000 tonnes sold during all of the prior frame, Chinese customs data show.

Russian supplies make up less than 1% of the 97-M tonnes of Soybean that China is set to buy overseas this season, USS government data show. Russia is a net importer of the Oil seed, the data show.

Russian Soybean plantings in the far east, the region nearest China, will probably remain little changed during the next season, at about 1.4-M hectares, said an agriculture analyst at the Institute for Agricultural Market Studies in Moscow. They may expand by as much as 20% during the next 2-3 years, he said.

Stay tuned…

 

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

You must be logged in to post comments :  
CONNECT WITH