Chinese soybean yeild is expected to decline by 3.9% for the third consecutive year, reaching 12.3 million tons. It aims to encourage imports of soybeans.
The sown area of soybean declines by 3.7% Y-O-Y. Last year, soybean area declined by 14.4%. It is colder in the northeast of China. Crop farmers cann't plant corn on time so they choose soybeans.
USDA predicts that China is expected to import 69 million tons soybean in 2013-14.
China National Grain and Oils Information Centre believes that Chinese rapeseed yeild will increase by 0.7%, reaching 14,100,000 ton; peanut yield increase by 1.19%, reaching 17,000,000 tons.
Written by Nicolas Yang