China, the world's largest soybean importer, will import in the year 2016/17 probably 85 million tons of soybeans. Which are more than in the current period, but large supplies in the country of mid limit the import increases, so yesterday the statement of the senior official of the State CNGOIC Li Xigui on a corn Exchange in London.
This season (October 2015 and September 2016), approximately 82 million tons are imported soybeans. In the season, it was 78,35 million tons. The estimate of Li BB´s yesterday is significantly below the USDA last Friday, where 87 million tons of imports would have been expected.
The import is controllable according to p China have for years soybean stocks built up and now the reserves are to be dismantled. The world market was too optimistic regarding China's imports. You still need imports.
In may, China imported 7.66 million tons of soy beans, 8.3% more than the 7.07 million tons in April 2016.
Li estimated 130.1 million tonnes of China's wheat harvest 2016/17 (June-may), which are almost as much as in the previous year. Wheat imports will be stable at 3 million tons.
China's corn production 2016 by Li is estimated at 218 million tons, there were 224.6 million tons in the previous year. The drop resulted from a growing constraint to 2.6% and a lower yield of 0.5%. China's corn imports will decrease to 1 million tons. There were still 2.7 million tons in the previous year.
China's stocks are high, "We try to limit it," Li says.
