Home Indiana Agriculture News China’s Appetite for Soybeans Continues to Grow

China’s Appetite for Soybeans Continues to Grow

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China’s Appetite for Soybeans Continues to Grow

New data on Chinese export demand for soybeans released on Friday shows no slowing down in demand for U.S. soy protein. Figures released on Friday show China continues to be a good customer of the American soybean farmer, says Doug Werling with Bower Trading. “To date they have imported close to 79 million metric tons of soybeans,” he stated. “That is up from the same period last year when they imported 66.7.” He said this shows a continuing strong pace of demand, “Their expansion in the pork industry is a good reason for this growth.”

The export market is not the only market that is exciting. Werling says the energy sector is attracting outside investment that is good for all commodities, “In the energy sector, they are positioned as a speculative net long.” He added, when there is good outside investment in the energy sector, this is good for no only biofuels but for all commodities.

For more market strategy information, contact Bower Trading at 800-533-8045 or bowertrading.com.

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