China’s soybean imports in April rose 11% from the same month last year, boosted by the arrival of some delayed Brazilian cargoes, customs data showed. China, the world’s top importer of soybean, brought in 7.45 million tons of the oilseed in April, up from 6.71 million tons a year earlier, according to the General Customs Administration. “It was a pretty strong number given the delays we saw out of Brazil this year,” said Darin Friedrichs, senior analyst at StoneX. “May imports are expected to be even stronger, as the peak of Brazil shipments should be arriving now.” Brazil exported a record monthly volume of soybeans in April, more than 17 million tons, according to data from the Brazilian government. Chinese crushers have stepped up purchases of soybean from top exporters Brazil and the United States in the early months of 2021, expecting higher demand as the country’s pig herd recovers. Brazilian shipments are expected to pick up and dominate the China market from April till late in the year, traders and analysts said.
Sources: Reuters / Notícias Agrícolas (*Translated by Ia Niani)