CNGOICChina National Grain and Oils Information Center
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The CNGOIC expects Chinese companies may need to import at least 10 million tons from the U.S.
Premiums for Brazilian soybeans for August shipment were nearly 70 percent higher than that for U.S., according to the CNGOIC. They are at more than 300 cents a bushel over benchmark Chicago soy future prices arriving in China, according to the CNGOIC.
China is expected to import 450,000 tones of palm oil per month in August and September, compared with a forecast of 250,000 tones for July, according to a report by the China National Grain and Oils Information Center (CNGOIC).