China’s soybean imports are rising thanks to increased demand for animal feed and falling prices, Bloomberg reported, citing a survey of Chinese buyers and analysts. China, which buys about 60% of the world’s soybeans, purchased 2 million metric tons last week, and imports in the year beginning October 1 may rise 7% to 73 million tons, the survey shows. “With demand for animal feed making a recovery, the lower import costs should help improve the crush margins,” said analyst Monica Tu. China’s imports will help absorb a global glut and prevent a further slide in prices, which fell 7.5% this month in Chicago.
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