In the first two months of this year, China imported six times as many soybeans from the United States than in the same period last year. Now the deliveries arrive, which were agreed in the "ceasefire agreement" of January 15th.
China, the world's largest importer of oilseeds, bought 6.101 million tons of US soybeans in January and February. In the comparable period of 2019, it was 1.044 million tons; at that time there was a bitter trade war between the two major economic powers.
In December China already imported 44 times as many soybeans from the USA with 3.09 million tons. China had imposed import duties on some US imports.
China imported 5.14 million tons of oilseed from Brazil in the first two months of this year, which was 26% less than in the previous year. Overall, China's soybean imports rose by 14.2% to 13.51 million tons during this period.
Deliveries from the United States are expected to decrease as the soybean harvest has begun in South America and prices are lower. China has already bought some additional quantities from Brazil to replenish its state stocks.
Source
HANSA Terminhandel
