July 6, 2007

US exports more soybean to China

According to the US Department of Agriculture, the US had shipped 10.95 million tonnes of soybean to China as of Jun 21 in the current marketing year (Sep 1, 2006 to Aug 31, 2007). In the same period last year, US had shipped 9.35 million tonnes of soybean to China.

As of June 21, the US had sold 11.17 million tonnes (including both shipped and outstanding deliveries) of soybeans to China, an increase of 16 percent compared with 9.64 million tonnes during the same period of last year.

The USDA estimated that China's import of soybeans will hit a record 30 million tonnes in 2006/07 marketing year, up 5.9 percent from the 28.32-million-tonne imported in 2005/06.