China had, in 2021, decided to grow more corn because it saw greater profits available, which meant a drop in soybean production—some 16.3 percent.
While that may have meant better options for global soybean producers re: sales, the 2022 news of increased bean production means more competition for the market.
The China agriculture ministry said that the country should, for the upcoming season, stabilize its grain production and look to boost its production of soybean and oilseeds.