China soy meal demand rising
At the end of March, breeding sows made up 11% of the country’s total hog inventory, compared with the normal 9%, indicating higher capacity for reproduction. Demand for soybean meal has a stable base because it’s not easy to alter the type of feed given to pigs, said Chen Baomin, analyst at Jilin Grain Group Co., said. If expectations build for a price rise, feed mills buy more to boost inventories. China’s inbound soybean shipments may reach a record 5.5 mln t in May, up from about 4.3 mln t this month, the Center said. Imports in June may also be 5 mln t before declining to 4 mln by July, it said.
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