New crop soybean sales are falling behind, approaching 20-year lows. China has not booked a single shipment, and analysts say demand could drop even more.
The peak marketing season in the United States will come later this year, but China already has a lot of soybeans on hand. Imports there were steady back in May on a push for more oilseed processing. They have so much on hand, Reuters reports that some crush plants are shutting down because of storage issues.
While China has not bought any new crop beans just yet, there is still time. In 2005, the first Chinese purchase came during the week ending August 11th.
Related Stories
An economist says U.S. ag exports could fall next year due to several factors.
It’s nothing new—inflation is crazy right now, and the grocery store is one of the major places our pocketbooks are getting hit the hardest. Here are a few ways to save on cooking oil.
Meet agronomist and Soybean FarmHER Jenny Mennenga of LeRoy, Illinois. Jenny also grew up on a small farm in Iowa!
