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China buying record amounts of soybeans

soybeans 2China imported more than seven million metric tons of soybeans during April. That’s a record for the month and a 15 percent increase from a record month of March. Pro Farmer’s First Thing Today says China’s soybean buys for the first four months of the year stand at 23.3 million metric tons, up 11 percent from a year ago. Overall trade data from China was disappointing for April, with exports dropping nearly two percent from last year and imports falling 11 percent from last year. Both of those numbers were below expectations, leading to a trade surplus of 46 billion dollars.

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