China’s US soybean imports rise in March, but Brazil set to dominate market

China's U.S. soybean imports increased by 12% in March compared to the previous year, totaling 2.44 million tonnes, or nearly three-quarters of its total imports. This surge is attributed to concerns over potential U.S.-China trade conflicts, despite expectations for Brazil to dominate the market in the near future. Brazil's imports experienced a 69% decrease in March due to harvest delays, leading to a total drop in soybean shipments to their lowest monthly level since 2008. The January-March quarter saw a 62% rise in U.S. imports and a 55% decline in Brazilian imports. Analysts predict that China's soybean imports could hit a record 31.3 million tonnes in the April-June quarter, thanks to fresh beans from Brazil's large harvest.

China’s U.S. soybean imports rose 12% in March from a year earlier, as shipments purchased in late 2024 arrived at the port by buyers concerned about the possibility of a U.S.-China trade conflict. However, Brazil is expected to dominate the market in the coming months as its harvest season begins. China imported 2.44 million tonnes of the oilseed from the U.S. in March, accounting for just under three-quarters of its total imports, according to the General Administration of Customs. “March shipments reflect precautionary buying by crushers in the fourth quarter of last year amid concerns about renewed trade tensions if Trump returns to power,” said analyst Rosa Wang of Shanghai-based agribusiness consultancy JCI. Brazil’s imports fell 69% in March to 0.95 million tonnes, or 27% of total soybean imports for the month. The slower shipments were partly due to harvest delays in the Latin American country. Total soybean shipments in March fell to their lowest monthly level since ...