Domestic soybeans remain expensive as planting shrinks
Prices of Chinese domestic soybeans in the northeastern growing region remain expensive, with prices hitting levels of 6,300 yuan per ton ($991 USD per ton) as the incentive for planting the crop weakened with many farmers switching to corn.
China has two distinct soybean markets. One market is the imported GMO soybeans from countries such as the US, Brazil, and Argentina, which are crushed for use in animal feed.
There is also a separate ma...