China expects higher soybean, corn imports for 2019-20 on rise in U.S. cargoes

China said on July 10 that it predicted higher corn and soybean imports for 2019-20, as the country was expected to step up purchases from the United States to fulfil the Phase 1 trade deal.

Corn imports for the crop year that ends in September are now seen at six million tonnes, up two million tonnes from last month’s forecast, the Ministry of Agriculture and Rural Affairs said in its monthly crop report.

The ministry also raised its forecast for China’s 2019-20 soybean imports to 94 million tonnes, up three million tonnes from its estimate in the previous month, according to the monthly Chinese Agricultural Supply and Demand Estimates (CASDE).

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