USDA sees China 2018-19 soybean import up by 3.5 mln tn at 100.5 mln.

Imports of soybean by China are expected to rise to 100.5 mln tn in marketing year 2018-19 (Oct-Sep), up by 3.5 mln tn from the previous year, because of a growing demand for the protein meal. In 2018-19, the production of the oilseed in the country is seen 15.2 mln tn, up by 1.1 mln tn from the USDA’s June forecast of 14.1 mln tn. Marketing year 2018-19 total oilseed consumption to reach 164.3 mln tn based on the continued growth of the animal husbandry industry’s demand for protein meal. The country imported 60.3 mln oilseeds Oct-May compared with 59.2 mln tn in the year-ago period.