China’s Spot Soybean Crush Margin Up Slightly From Last Week’s Multi-Year Low. April Imports Expected to Rise Sharply.
Summary: China’s “spot” soybean crushing margin today is -267 Yuan/MT, up from last week’s multi-year low. The “forward” margin is -90 Yuan/MT vs a week ago when it was -152 Yuan/MT. However, the forward margin is 74 Yuan below what it was a year ago. In the Apr WASDE, the USDA left its projection of China’s soybean imports unchanged at 88 MMT. Last…