The Chinese government has cut import tariffs on a series of animal feeds, including soybean products, as part of the Asia Pacific Trade Agreement. The move has been planned since March but conveniently comes just ahead of China’s new duties on U.S. soybean exports. The need for diversification of supplies is clear with Chinese imports of soybeans from the U.S. having dropped to 25% of the $46.7 billion imported in the past 12 months to May 31 from 35% in 2017. Brazil and Argentina are already significant suppliers. The Chinese tariff cut includes India and so will help meet the commitme...