USDA forecasts that China will import a lot of soybeans in the future.
In the 2004-2005 market year, China imported from all sources, about 1 billion bushels of soybeans.
In market year 2012-2013, China will import an estimated 2.2 billion bushels of soybean. USDA indicates that the large importing of soybeans by China is a result of declining soybean production and increased soybean consumption.
In the 2011-2012 and 2012-2013 market years, China has approximately 66% of the total world soybean import business.
USDA forecasts that China will import a lot of soybeans in the future.