And China is buying so mich from USA and you wrote...

2009-11-24T03:04:52.379-08:00

And China is buying so mich from USA and you wrote USA has problems of production:-

Nov 24, 2009
Soy imports continue into 2010

BEIJING - CHINA will retain its huge appetite for soy imports next year, and shipments may even eclipse this year's record, thanks to Beijing's pledge to keep shoring up local prices and a pick-up in soymeal demand.

Rising imports are already evident as the world's biggest soy importer has taken advantage of a record US harvest to book 15.84 million tonnes of new US soy, nearly twice as much as the 8.28 million tonnes booked by this point in 2008, US Department of Agriculture figures show.

The total is likely to be even bigger, at 18.36 million tonnes, traders calculated, assuming 70 per cent of 3.603 million tonnes going to unknown destinations was also booked by China.

'China's imports are growing not steadily, but forcefully. We will see large US imports flowing in in coming months,' said Liang Yong, an analyst with China Galaxy Futures Co. Ltd. 'Strong Chinese imports would still be a factor for speculation on the Chicago market.'

China's active purchases have already driven up Chicago Board of Trade prices to a 2-month high on Thursday, and China's demand helped lift US soy export sales last week to their highest in seven weeks.

Beijing tried to put the brakes on this year's surge of imports by offering subsidies to crushing plants in China's northeast to use local beans rather than imports. The offer will be extended for the new harvest, trading sources have said. -- REUTERS

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And China is buying so mich from USA and you wrote...