The soybean import forecast for China has been reduced to 80 million tonnes, the lowest since 2015.

Soybean meal used in livestock feed is expected to decline to 62 million tonnes vs 65.7 million tonnes y-o-y.

The Chinese government’s subsidy policy encouraging soybean growers to expand their cultivation area has boosted domestic production to an estimated 17.1 million tonnes, up 1.2 million tonnes y-o-y.