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China buys record Brazilian soybeans as US shipments drop

Brazil supplied 12.08 million tonnes in June, while US volumes fell 20.6% to 1.27 million tonnes, leaving US deliveries well below a Trump-Xi purchase pledge.

Reported · Written up by our desk · Trade & Tariffs

China imported 12.08 million tonnes of Brazilian soybeans in June, a 13.7% year-on-year increase, while US soybean shipments fell 20.6% to 1.27 million tonnes, according to customs figures cited by the SCMP Economy.

SCMP Economy reports that total soybean arrivals reached 13.55 million tonnes in June, a record for the month, helped by Brazilian supply and by the clearing of previously delayed cargoes at Chinese ports.

For the first half of the year, imports from the US dropped 42.4% to 9.31 million tonnes, versus China’s pledge to buy at least 25 million tonnes annually through 2028, while Brazilian volumes rose 9.1% to 34.75 million tonnes.

SCMP Economy notes that June shipments likely reflect purchases agreed weeks or months earlier, which could mean buying is concentrated later in the year despite the weaker US pace so far.

Latest closeSoybeans $1,193.75 ▼0.7%

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