Official data indicate that the amount of Brazilian soybeans China imported last month was 4.93 million tonnes, more than twice the amount it imported a year earlier, Reuters reports.
The news agency, citing figures given by the Chinese customs service, says China imported 135,814 tonnes of US soybeans last month, 95 percent more than the month before but 99.7 percent less than a year earlier, as hefty Chinese import tariffs curbed purchases from the United States.
Analysts think nothing is likely to change in the coming months, because Chinese processors of soybeans have sufficient stocks and the new Brazilian crop will soon reach the market, Reuters says.
Separately, an agricultural news website, AgWeb, quotes a ClipperData researcher as saying the load-out rate of soybeans in Brazil rose to nearly 1 million tonnes a day early this month from under 200,000 tonnes a day for most of last month.
