Need for vegetable oils driving Chinese purchases of US soybeans

A global ag trade expert says the need for vegetable oils is driving recent purchases of US soybeans by China.

Gregg Doud with Aimpoint Research tells Brownfield when you consider the high price of palm oil in Southeast Asia, drought in South America and the blockage of sunflower seed oil from Ukraine and Russia, there’s only one place left to turn.

“The only other place to get vegetable oil would be to buy US soybeans and ship them to China and crush them.

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