FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The soybean price shed 1.5% yesterday amid concerns about Chinese demand and closed trading at 865 US cents per bushel. Chinese demand for soybeans has slowed perceptibly in recent weeks: so far, for example, China has ordered only 2 million tons of soybeans for delivery in November.
At the same time last year the figure was nearly 4 million tons. US soybean exports total just 10 million tons from the beginning of the year up to now, notes Commerzbank.
Despite the fear of a slump in demand, China has imported record quantities of soybeans this year. Supply from South America that is cheaper due to favourable exchange rates means that the US is losing market shares to its leading rivals, Brazil and Argentina.
