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
Trade estimates point to only modest changes in U.S. grain ending stocks ahead of USDA’s June 11 WASDE report.
Farmers may need flexible marketing plans as tighter supplies and uncertain demand heighten price risks for corn and soybeans.
Home to Reelfoot Lake, Lake County combines fertile farmland with one of Tennessee’s top outdoor destinations.
Corn is the clear export leader heading into summer.
