China increased its import of soybeans from Brazil by 10.9 percent in August compared to the same month last year, writes Reuters. In the same period, Chinese import of soy from the US dropped drastically.
China is the world's largest dry bulk market and the largest importer of soybeans. China boosted its import from Brazil from 8.15 million tonnes a year ago to 9.04 million tonnes in August this year. China uses soybeans for pig feed and soy oil for cooking.