China absorbs more than 90% of Russian soybean exports

Russia exported 69.8 KMT of soybeans in January 2018/19, or 28.6% less than in the previous month and 32% less than in January 2018. A record 395.6 KMT of soybeans were shipped abroad in the first five months this marketing year against 352.8 KMT a year earlier.

In view of increased deliveries to China and Belarus, total 2018/19 soybean exports from Russia may reach 1 MMT, reports UkrAgroConsult.

Over 90% of this season’s soybean exports went to China and about 5% to Belarus, where a new crushing plant requires more feedstock. In addition, the Republic of Korea boosted soybean purchases to 5.5 KMT against 0.5 KMT a year earlier.

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