Report: China’s US imports to continue strong

Source: By Agri-Pulse • Posted: Thursday, July 1, 2021

China’s imports of U.S. corn, soybeans and other feed ingredients will continue strong well into the coming marketing year, although the strength of the Chinese currency and U.S. prices may disrupt trade patterns, according to a new analysis released by CoBank. “China will remain an active buyer of U.S. grain through at least the 2021-22 marketing year,” says Kenneth Zuckerberg, an economist for CoBank. “But the increased volatility in grain prices has led China to shift its buying pattern to wait for price weakness before committing to additional purchases, as well as to contract now for the next marketing year.” Meanwhile, China is already buying millions of tons of U.S. soybeans for delivery in 2021-22 at a quicker pace than purchases at this time last year. A major factor is the country’s success so far in rebuilding its hog farms after battling African swine feve