AgResource Analysis of the March WASDE Report
The USDA held Chinese 2020/21 soybean imports at 100 MMTs, but lowered its annual crush by 1 MMTs to 98 MMTs. The total S American production estimate was fractionally increased to 197 MMTs, a 4.8 MMT increase over last year and a record large crop. Argentine production was lowered by 500,000 MTs, the harvest in…