Faced with delays in receiving shipments of soybeans from Brazil, China is anticipating a shortage of soybean meal.  The average monthly importation of soybeans in 2020 ranged from 8 to 9 million tons but with only 5.5 million tons anticipated in March.  China soybean stocks were at 758,800 metric tons on February 23rd apparently double the quantity compared to the corresponding week of 2020.

On February 26th soybean meal traded on the Dalian Commodity Exchange at $525 per short ton compared to $424 on the CME.