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China October soybean imports fall on high inventories, weak crush margins
BEIJING: China’s soybean imports fell to their lowest level for October since 2023, as high crusher inventories, negative margins and low pork prices dampened buying appetite, analysts said. China imported 7.35 million metric tons of soybeans in October, down 22.5% from the record 9.48 million tons imported a year earlier and 38% lower than September, customs data showed on Tuesday. The volume was also well below analysts’ expectations of around 9.5 million tons per month in the fourth quarter. “In October, South American old-crop supplies were running out while bulk shipments of new-crop US s...
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