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Reuters
07-08-2025
- Business
- Reuters
China soybean imports hit record July high on strong Brazil exports, US trade uncertainties
BEIJING, Aug 7 (Reuters) - China's soybean imports rose to the highest ever for the month of July, a Reuters calculation of customs data showed on Thursday, driven by strong Brazilian exports and ongoing China-U.S. trade uncertainties that have raised supply concerns. The world's largest soybean consumer brought in 11.67 million metric tons in July, data from the General Administration of Customs showed, up 18.5% from 9.85 million tons a year earlier, and above analysts' expectations of 10.48 million tons. "This suggests the market is preparing for potential uncertainties arising from China-U.S. trade tensions," said Rosa Wang, an analyst at Shanghai-based agro-consultancy JCI, who expects imports to remain above 10 million tons in August and September. Most beans are expected to come from top soy supplier Brazil. "Brazil's abundant soybean production has provided a strong supply foundation. Due to its bumper harvest, the peak supply period for Brazilian soybeans is expected to be longer than in previous years, remaining at a high level leading up to the fourth quarter," said Wan Chengzhi, an analyst at Capital Jingdu Futures. Shipments for the first seven months of the year totaled 61.04 million tons, up 4.6% year-on-year, the Customs data showed. July imports were down 4.8% from June, the data showed. Concerns over the trade disputes between the U.S. and China have fuelled soybean supply fears for the fourth quarter, with local feed mills on Tuesday booking around 1.9 million tons of soymeal for October to January deliveries, the biggest single-day purchase of 2025. China has yet to book any U.S. soybean cargoes for the fourth quarter as buyers await the outcome of China-U.S. trade negotiations. "Overall, a temporary mismatch between supply and demand for imported soybeans in China's domestic market may occur in the fourth quarter," Wan said. Still, China is facing a soymeal supply glut, as record imports earlier in 2025 combined with weak demand from animal feed producers have increased domestic soymeal inventories, Reuters has previously reported.
Business Recorder
14-07-2025
- Business
- Business Recorder
China June soybean imports hit record high on strong Brazil shipments
BEIJING: China's soybean imports in June hit a monthly record high, a Reuters calculation of customs data showed on Monday, driven by a surge in shipments from top supplier Brazil. The world's largest soybean buyer brought in 12.26 million metric tons in June, up 10.35% from 11.11 million tons a year earlier. 'June's import surge was fuelled by a strong Brazilian harvest and increased buying of Brazilian beans amid ongoing China-U.S. trade tensions,' said Wan Chengzhi, an analyst at Capital Jingdu Futures. According to shipping data provider Kpler, China imported 9.73 million tons of soybeans from Brazil in June, while shipments from the U.S. totalled just 724,000 tons. Official origin data is expected to be released on July 20. Wang Wenshen, an analyst at Shandong-based Sublime China Information, said that strong profits from earlier high spot prices for soybean meal also encouraged more buying. China's May soybean imports from Brazil jump In the first half of the year, China imported a total of 49.37 million metric tons of soybeans, up 1.8% from a year earlier, the General Administration of Customs data showed. Soybean arrivals in China for July are expected to total 10.48 million metric tons, compared with 9.85 million tons a year earlier, based on average estimates from one trader and two analysts. 'Recent data shows Brazil's weekly shipments remain high, reinforcing expectations of strong soybean imports into China through July and August,' Wan said. 'China has not yet purchased any fourth-quarter U.S. soybeans, with buying decisions likely hinging on the outcome of future China-U.S. trade talks.'
