A hired hand feeds a sow which recently gave birth to a new litter at the Grand Canal Pig Farm in Jiaxing, in China’s Zhejiang province.
STR | AFP | Getty Images
That may be indicating that farmers are switching from food waste to manufactured feed, according to one analyst, which could mean better-than-expected demand will persist.
The Chinese use of soybeans is an important metric for the country’s trade relationships. Since China is the world’s top buyer of the oilseeds, it could give some support to American exports as shipments for the current marketing year may be on pace to top U.S. government forecasts, a recent Reuters analysis showed.
China’s sustained demand for soybeans has been called into question not just by trade war tensions but also by a raging outbreak of African swine fever, which has forced farmers to cull a significant percentage of their…