- China’s soybean offtake is about 37 percent lower than during the first few weeks of 2018, according to tanker-tracking firm ClipperData.
- Soybean prices have rallied on hopes the United States and China will resolve their ongoing trade dispute.
- However, the remarkably weak imports suggest there is a real demand problem in the world’s second-largest economy.
China’s soybean imports in the opening weeks of 2019 have plunged from recent years, raising concerns for American farmers who were hoping that a trade deal would offer swift relief.
Soybean shipments offloaded in China this year are down about 37 percent from the first two weeks of 2018, according to tanker-tracking firm ClipperData. To be sure, a couple weeks of data represent a small sample size, but the drop is very concerning in light of market conditions and trade tensions, says Ken Smithmier, director of research for agricultural markets at ClipperData.
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