China's soybean supplies near a record high

China's oil mills are currently processing almost exclusively soybeans from South America, which they had bought in unprecedented scale in recent months. This was announced today by the Ministry of Agriculture in Beijing in its monthly report.
This information is also in line with market expectations after oil mills bought huge quantities of Brazilian soybeans before Beijing raised import tariffs on US soybeans on 6 July, exacerbating the US trade dispute.
Chinese soya bean stocks are almost at a record high.

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