Decline of soybean import boom in China
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Last Update: 2002-02-07
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Source: Internet
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Author: User
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Introduction: the recent upsurge of Chinese soybean crushers purchasing soybeans in the U.S market began to decline The basis price of barges for spot shipment of soybeans sent to the U.S Gulf of Mexico on Tuesday fell 1 cent per bushel, reflecting the expectation of the U.S market that China's demand for soybeans will ebb with the implementation of genetically modified regulations on March 20 However, the demand is still strong in the near future due to the large number of Chinese buyers in the early stage In the next two weeks, nearly 700000 tons of us soybeans will be ready from the Pacific Northwest harbor and the Gulf of Mexico In addition, President Bush plans to visit China informally later this month and will discuss GMO issues Many U.S traders expect the visit to delay China's March 20 GM rules.
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