date:May 16, 2014
it said last week.
Demand dropped in the first quarter following outbreaks of H7N9 avian influenza and as economic growth slowed, causing losses in the animal husbandry and soybean crushing industries. That raised concerns that some traders may cancel orders, with the U.S. Soybean Export Council last month estimating possible defaults on as much as 2 million tons of cargoes.
The market hit the bottom and has got its footing now for a recovery, said Liu Xianwu, the general manager of China Cere