By July, China imported 18% more soybeans, mainly from Brazil

China's soybean imports rose by 18% in July compared to July 2019. Large quantities came from Brazil, from where the oilseeds were offered very cheaply.
China, by far the world's largest soybean importer, bought 10.09 million tons last month (July 19: 8.63). That was only slightly less than the record-breaking amount of 11.16 million tons imported in June.
Brazil has a large amount available for export this year and its national currency, the real, has been devalued significantly. This is why Brazilian soybeans were particularly cheap for China's oil mills and thus improved the wages in China.
Deliveries from Brazil have been increasing since March when the weather conditions there improved.
China's soybean imports rose 17.7% in the first seven months of this year compared to the same period last year. At the beginning of the year, soybean and soybean meal stocks in China were at a low; Since then, the situation has improved as Brazilian beans filled the gaps.At that time oil mills even had to cut back their production, now the same companies report that they are struggling with high stocks. This type of problem is likely to be short-lived, as the demand from compound feed manufacturers is now increasing significantly.
From next week the bean and meal stocks are expected to shrink again.
This is why observers also expect China's soybean imports to remain high in the coming months. China is now vigorously trying to rebuild its pig populations after the national herd of African swine fever that broke out in August 2018 and is still uncontrolled.

Hansa Terminhandel GmbH
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