Soybean: South America is the United States market share in China

China's soybean imports rose to their second-highest monthly turnover ever achieved in June. Buyers of of China, the world's biggest importer of oilseeds, use the reasonable prices of the South American suppliers. A bumper crop in Brazil, the No. 2 of the world's largest exporters, boosts China's orders in June to 6.66 million tons, 22.9% more than in June 2014. Argentina, the No. 3 in the world rankings, produced 1.17 million tons and thus even 68.2% more than a year ago in June.
Total imported 8.09 million tons of soybeans to China in June and was thus only slightly below the record of 8.5 million tonnes of last December. The country paid $431 per tonne - compared to $603 per tonne for arrivals from Brazil a year ago.
Analysts believe that China's oilseed covers from South America remain high in the fourth quarter, resulting in loads of U.S. soy beans would go. 7-8 million tons to be sold, because the prices in Brazil and Argentina are significantly cheaper than in North America. Chinese market participants believe that the U.S. balance sheet still must be revised. In the fourth quarter of last year, China had taken only 4.7 million tons of soybeans from South America. At that time, the beans from North America but also around $11 per tonne were cheaper. China's import of the new soybean crop from the United States was in early July to the lowest level since 2007.
In the first half of 2015, China had imported 35.15 million tonnes of soya bean, 2.8% were more than a year ago.

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