Andrey Sizov Jr.
China first approved phytosanitary authorities for Russia’s soybean imports in December 2015.
Russia low carry-in stocks are also not supporting exports.
With low domestic consumption and no ethanol industry to absorb the excessive supply, big crops in Ukraine convert into big exports.
In 2011/12, the U.S. sold 201 million bushels (5.1 mmt) of corn to China, which accounted for almost 100% of all Chinese imports.