China’s soybean imports surge as orders to US hit zero, and South America is cashing in
Zero soybean purchases from the US in September as China’s supply diversification continues, while American farmers hold out hope for a trade deal
Long the top client of US soybean farmers, China is expected to make large-scale purchases of the US grain a major part of any potential trade deal.
In the meantime, and in preparation for future uncertainties, China has been stepping up purchases from other countries, mainly in South America. China’s total imports in September were up 13 per cent from the same period a year prior, and up 5 per cent from August, customs figures showed.
06:31
Soybeans: China’s new bargaining chip in trade war with US?
Brazilian soybeans continued to dominate, with a nearly 30 per cent year-on-year increase, accounting for 85.5 per cent of China’s imports in September.