Chinese crushers’ weekly cargo-buying volume of soybeans fell sharply this week as softer crush margins in China and sufficient coverage of December shipment dampened demand of the feedstock material.
The number of soybean cargoes from US and Brazil booked by Chinese crushers and trading houses tanked to 6-7 cargoes last week, more than halved compared with the volume traded the week before.
“China will likely maintain a low stocks level in December, waiting for Brazilian [new] crops,” one China...