China did not import any soybeans from the United States in October, marking the second consecutive month of zero shipments.
This comes even as the country’s overall soybean imports reached a record high, driven by strong purchases from Brazil and Argentina.
Surge in South American Supplies
Data shows that arrivals from Brazil jumped 28.8 percent year-on-year to 7.12 million metric tons in October.
Brazilian shipments accounted for roughly three-quarters of China’s total soybean imports during the month.
Imports from Argentina also increased by 15.4 percent to 1.57 million tons, making up about one-sixth of the total.
Overall, China’s soybean imports in October hit 9.48 million metric tons, setting a new record for the month.
Year-to-Date Import Trends
From January to October, China imported 70.81 million tons from Brazil, a rise of 4.5 percent compared to the same period last year.
Imports from Argentina reached 4.46 million tons, up 23.9 percent year-on-year.
Despite the recent halt in U.S. shipments, year-to-date imports of American soybeans remain at 16.82 million tons, reflecting an 11.5 percent increase over last year.
Decline in U.S. Soybean Imports
The absence of U.S. soybean arrivals follows the imposition of high tariffs earlier in the year.
Additionally, previously harvested U.S. stock, or old-crop beans, has largely been depleted.
China remains the world’s largest soybean importer, making the absence of U.S. beans significant for global trade.
Renewed U.S. Purchases
After months of limited orders, China has resumed some U.S. soybean purchases following late-October talks between leaders from the two countries.
State-run grain buyers have booked over 1 million tons of American soybeans since late October.
Markets are now closely watching for additional purchases as China may aim to meet a 12-million-ton year-end target set by the United States, although China has not yet confirmed this figure.
