Market News & Headlines >> China's February Soybean Imports Solid
China’s February soybean imports were 20.3% on a seasonal basis from January, but were 5.9% above a year earlier and were stronger than previously forecast, according to preliminary data from China’s General Customs Administration.
Combined imports for the first two months of 2016, however, were still down 8.7% from a year earlier.
China’s soybean imports during February totaled 4.51 million metric tons, down 20.3% from January imports of 5.66 million tons, but were up from an earlier forecast of 4.0 million tons and were 5.9% above the February 2015 imports of 4.26 million.
Imports are expected to pick up in March as February normally marks a seasonal low. Low soybean prices and expansion in China’s hog sector are expected to support continued growth in its soybean exports this year, but negative crush margins are a limiting factor for imports.