China’s soybean imports have geared up recently, with 2.89 million MT in Nov., 15% more than the month before. December may see 4.3 ~ 4.5 million MT imports.

Chinas’ soybean stock at ports adds up to 3.66 million MT, an increase of 250,000 MT over a month ago, creating a moderate pressure on market price.

World soybean production is estimated to be 250.25 million MT this year, 19% more than last year. As production is estimated to outrun demand growth, world soybean inventory is predicted to be 57.09 million MT at the end of this year, 35% more than the same period of last year, suggesting a more abundant supply than last year.