BEIJING (DTN) -- China's soybean purchases have accelerated to historically high levels in recent months on the heels of South America's bumper harvest.
China imported 8.1 million metric tons of soybeans in June, primarily from Brazil, said Jun Wang, an agricultural economist at China Agricultural University.
Overall, he thinks China could import a larger quantity than previously expected, about 77.2 mmt of soybeans in 2014-15, but that figure could change if hurricanes and bad weather delay shipments.
"We are expecting historically high figures in July, August and September. That means we will have more Brazilian bean imports this year."