China Soy Imports Could Be Raised In May WASDE, Despite Unprofitable Crush Margins.
The estimated crush margin for imported soybeans “spot” delivery in China was -185 Yuan/MT yesterday (see red line in chart below). That was down 17 Yuan/MT from a week ago. A month ago, spot crush margins fell to a 21-month low. Four months ago, the spot crush margin set a 2-year high. The crush margin for…