China's soybean imports hit a record high in July, corn also set a new record

China's soybean imports hit a record high in July

Data released by the General Administration of Customs show that in July 2015, China's total soybean imports reached a record 9.5 million tonnes, up 27% from the same period the previous year. This was also the first time China's monthly soybean import volume exceeded 9 million tonnes. In July, China's soybean imports from Brazil reached 6.37 million tonnes, up 22.1% from the same period the previous year. During July, China also imported 2.28 million tonnes of soybeans from Argentina, up 43.9% from the same period the previous year. Analysts say South American soybeans are expected to drive China's soybean imports to a record high this year, because consecutive years of bumper harvests mean South American soybean offers will continue to be available after August, which means US soybean exports may be limited.

Corn and substitute imports hit a record high in July

Data from the General Administration of Customs show that in July 2015, China's imports of corn and substitutes hit a historic high, as feed processing plants took advantage of low overseas prices to increase imports, replacing relatively expensive domestic grains. In July, China's imports of corn distillers dried grains reached a record 1.1 million tonnes, higher than the previous historic record of 959,935 tonnes in June and up 67% from the same period the previous year. Almost all of China's imported corn distillers dried grains came from the United States. In July, China's barley imports were 1.28 million tonnes, up 68% from the same period the previous year, mainly from France and Australia. In July, China's sorghum imports reached 1.11 million tonnes, up 183% year on year. In July, China's corn imports were 1.11 million tonnes, up about 10-fold from the same period the previous year, of which 938,344 tonnes came from Ukraine.