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USDA expects increase in soybean exports to China this year

The USDA anticipates China will ramp up its imports of US soybeans the remainder of the year.

Analyst Keith Menzie says South American countries including Brazil had a record 16 million tons of soybean export sales in April, with about 11 million going to China.

“They will be depleted by fall and we expect a pretty sharp ramp up on US exports to China.”

He says China will likely rely on US beans until Brazil harvests its next soybean crop around this time next year.

Menzie says China is gradually recovering from losing their hog herds to African Swine Fever which will lead to an increase in protein consumption and a greater need for soybeans.

China is also working to meet purchase commitments under phase one of a trade deal with the US.