Latest news with #RosaWang
Business Recorder
3 days ago
- Business
- Business Recorder
China May soybean imports hit record high of 13.92 million metric tons
BEIJING: China soybean imports hit a record high of 13.92 million metric tons in May, customs data showed on Monday, more than double the volume imported in April, as customs clearance speeds returned to normal and the operating rate of crushing plants recovered. Imports had plunged to a 10-year low of 6.08 million metric tons in April, as prolonged customs delays and late shipments from Brazil - caused by harvest slowdowns and logistical issues - disrupted the usual cargo flow. Customs clearance speed has returned to around two weeks from 20-25 days, said Rosa Wang, an analyst from Shanghai-based agro-consultancy JCI. 'The operating rate of crushing plants has risen to over 50%, and soybean meal deliveries have also been good,' Wang said, adding that May's import volume exceeded her expectation of 12 million to 12.5 million metric tons. Imports in May were up 36.2% from 10.22 million metric tons in the same period last year, based on Reuters' calculations from customs data. Imports in the first five months of the year totalled 37.11 million tons, 0.7% lower than the year-ago period, data from the General Administration of Customs showed. Most imports come from top producer Brazil, which typically ships the bulk of its soybean crop between March and June. Brazil exported 14.10 million tons of soybeans in May, up from 13.44 million tons in the same month last year, according to government data. Chicago soybeans fall for second session on improved weather, demand worries The country's grain exporters association Anec forecast Brazil's soybean exports will reach 12.55 million metric tons in June, down from 13.83 million tons in the same month last year. In Argentina, the world's third-largest producer, soybean yields continue to track higher than expected despite slower-than-usual harvesting due to heavy rainfall affecting multiple crops, the Rosario grains exchange said last week.
Reuters
3 days ago
- Business
- Reuters
China's May imports of soybeans rise from April; crude oil, coal and oil fall
June 9 (Reuters) - China's imports of soybeans rose in May from a month earlier, while those of crude oil, coal, and iron ore dropped, customs data showed on Monday. China's exports expanded 4.8% year-on-year in value terms in May, and imports dropped 3.4%, the data showed, as trade tensions remain high between Beijing and Washington. Economists polled by Reuters had forecast a 5.0% expansion in exports and a 0.9% drop in imports. KEY POINTS: * Soybeans: May imports at 13.92 mmt, up 128.9% m/m * Crude oil: May imports at 48.06 mmt, down 3% m/m * Unwrought copper: May imports at 427,000 mt, down 2.5% m/m * Coal: May imports at 36.04 mmt, down 4.73% m/m * Iron ore: May imports at 98.13 mmt, down 4.9% m/m * Rare earths: May exports at 5,864.6 mt, up 22.6% m/m Preliminary table of commodity trade data Below are comments from analysts on the commodities data: ROSA WANG, ANALYST, JCI, SHANGHAI "The May soybean import volume was higher than my expected 12-12.5 million metric tons. The customs clearance speed for soybeans has basically returned to normal—around two weeks. The operating rate of crushing plants has risen to over 50%, and soybean meal delivery has also been quite good." IRON ORE: "The import volume in May is lower than our expectations but remained at a relatively high level thanks to restocking from mills amid falling portside inventory." "Some vessels cleared customs in advance due to the May Day holiday break, which contributed to lower-than-expected imports in May and higher-than-expected imports in April." LINKS: For details, see the official Customs website ( BACKGROUND: China is the world's biggest crude oil importer and top buyer of coal, copper, iron ore, and soybeans.
Reuters
20-04-2025
- Business
- Reuters
China's soybean imports from US jump in March, but Brazil set to dominate market
BEIJING, April 20 (Reuters) - China's soybean imports from the United States rose 12% in March from the same period last year, as shipments secured in late 2024 by buyers concerned about the potential for a trade spat between the U.S. and China arrived in port. However, Brazil is expected to dominate the market in the coming months as its harvest season begins. China brought in 2.44 million metric tons of the oilseed from the U.S. in March, according to the General Administration of Customs, or just under three-quarters of total imports. "March arrivals reflect crushers' precautionary purchases in Q4 last year amid concerns over renewed trade tensions should Trump return to office," said analyst Rosa Wang at Shanghai-based agro-consultancy JCI. Imports from Brazil dropped 69% in March to 0.95 million tons, or 27% of total soybean imports for the month. Slower shipments were partly attributed to harvest delays in the Latin American country. Total soybean arrivals in March tumbled to their lowest for the month since 2008. For the January-March quarter, China's soybean shipments from the U.S. rose 62% from a year earlier to 11.6 million tons. Shipments from Brazil were 4.5 million tons, down 55% from a year earlier. This brings Brazil's market share in the first quarter to 26%, compared to the 68% for the United States, according to Reuters calculations. Analysts forecast China's soybean imports could reach a record 31.3 million tons in April-June, driven by the arrival of freshly harvested beans from Brazil's bumper crop.
