China sees strong soy imports on better crushing margin

China's import of soy is expected to stay high after March as lower costs improve crushing margins.

The margin, based on quoted prices of near-term cargoes, widened to RMB315/ tonne (US$46.14) by January 13, up RMB77 (US$11.28) from a week before, according to the China National Grain & Oils Information Centre.

China may be oversupplied with soy in the first quarter as imports are expected to be about 4.2 million tonnes in January and are likely to remain above four million tonnes in February, the report said.