Despite escalating trade tensions between the world’s two largest economies, China’s March soybean imports showed a notable reversal: U.S. shipments (2.44 million tons) exceeded Brazilian volumes (950,000 tons). The U.S. volume, representing 33% of China’s total imports, marked a 12% year-over-year increase, while Brazilian arrivals plunged 69% (accounting for 27% of imports). The volume was a third of China’s monthly soybean imports. Chinese imports of Brazilian soybeans dropped to 950 thousand tons. China imported 40% fewer soybeans in March than the previous year. In March, fewer Brazilian soybeans landed at Brazilian ports, but China raised its purchase of Brazilian soybeans for future imports. According to Reuters analysts, China expects to purchase 31.3 million tons of soybeans between April and June, following Brazil’s recent harvest.
Source: Revista Globo Rural