China soybean imports hit record June high on strong Brazil supplies

BEIJING: China’s soybean imports rose to their highest ever for the month of June, according to Reuters calculations based on customs data released on Tuesday, driven by strong Brazilian supplies and the clearance of delayed cargoes at ports.

The world’s largest soybean buyer brought in 13.55 million metric tons in June, up 10.5% from 12.26 million tons a year earlier and 14.9% higher than in May.

“This was mainly driven by a bumper soybean harvest in Brazil and concentrated shipments, combined with the clearance of previously delayed cargoes at ports,” said Liu Jinlu, an agricultural researcher at Guoyuan Futures.

Imports totalled 50.15 million tons in the January-to-June period, up 1.5% from 49.39 million tons a year earlier, the data showed.

Liu expects monthly arrivals in July and August to exceed 10 million tons on average, while full-year imports could approach or slightly exceed the record set in 2025 if the current pace continues.

“Key variables to watch include China-US relations, the pace of Brazilian exports, and the recovery of domestic livestock demand,” she said. Shipments from the US are expected to continue arriving after Beijing resumed purchases of US soybeans late last year.

In January to May, China imported 8.38 million tons of soybeans from the United States.

Purchases of the new US crop have also picked up in recent weeks after a May 14 to 15 summit between Presidents Donald Trump and Xi Jinping left unchanged a commitment for China to buy 25 million metric tons of US soybeans annually through 2028.