US on track for record soyabean crop year; China demand drains stockpiles
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US farmers just can't seem to grow enough soyabeans to satisfy China.
For the third year in a row, US production is expected to set a record, the best such string since 1979. Yet, with output dropping elsewhere, a flurry of demand from China and other importers is eating away at stockpiles. The result: For the first time in three years, domestic inventories are poised to drop below the previous season, according to analysts surveyed by Bloomberg.
