China imported significantly more soybeans in June

The China soybeans import is a 32% increase as compared with May and 26.6% up on the year-on-year figure. China imported over 8 million tons of soybeans in June. Not to mention the second-largest monthly import volume ever. 

"The largest consumer country by far is also set to import large quantities of soybeans in July and August. Brazil above all is once again likely to profit particularly from the still dynamically growing demand from China in the coming 2015/16 season and thus further expand its production", says Commerzbank. 

A slight decline in production is expected in the US, on the other hand. Although provisional figures from the US Department of Agriculture (USDA) indicate that the soybean acreage has increased marginally, no repeat of last year's record-high yields is anticipated. 62% of soybean plants are currently rated as being in good or excellent condition, 10 percentage points less than at the same time in 2014.