China imports no US soybeans in September for first time in seven years
By Ella Cao and Lewis Jackson
BEIJING (Reuters) – China did not import soybeans from the United States in September; This was the first time since November 2018 that shipments dropped to zero. South American shipments rose from a year ago as buyers shunned American cargo amid an ongoing trade dispute between the world’s two largest economies.
According to data released by China’s General Administration of Customs on Monday, imports from the United States last month fell to zero from 1.7 million metric tons a year earlier.
Shipments have fallen due to high tariffs China has imposed on U.S. imports and the trade in previously harvested U.S. ingredients known as old crop beans. China is the world’s largest soybean importer.
“This is mainly due to tariffs. In a typical year, some old crop beans still enter the market,” said Wan Chengzhi, an analyst at Capital Jingdu Futures.
Customs data showed that arrivals in Brazil last month rose 29.9% year on year to 10.96 million tonnes, accounting for 85.2% of China’s total oilseed imports; Shipments from Argentina increased by 91.5%, reaching 1.17 million tons, or 9% of the total.
China’s soybean imports reached 12.87 million metric tons in September, the second highest in history.
China did not purchase any cargoes of U.S. soybeans from this fall’s harvest. The U.S. soybean buying window is closing quickly as buyers secure shipments through November, largely from Brazil and Argentina, helped by a short tax holiday in Argentina.
Without a breakthrough in trade talks, U.S. farmers could face billions of dollars in losses as Chinese crushers continue to source from South America. But Beijing could face a potential supply shortage early next year before Brazil’s new crops hit the market.
“If a trade deal is not struck, there could be a soybean supply deficit in China between February and April next year. Brazil has already shipped a large amount and no one knows how much old crop stock is left,” said Johnny Xiang, founder of Beijing-based AgRadar Consulting.
Trade talks between Beijing and Washington appear to be regaining momentum after weeks of new tariff threats and export controls. US President Donald Trump said he believes a deal will be reached on soybeans on Sunday.
In the January-September period, China imported 63.7 million tons from Brazil, with an annual increase of 2.4%, and 2.9 million tons from Argentina, with an annual increase of 31.8%.
Although Chinese buyers avoided this year’s U.S. harvest, purchases in early 2025 meant American bean imports rose 15.5% year-to-date to 16.8 million tonnes, the data showed.
(Reporting by Ella Cao and Lewis Jackson; Editing by Christian Schmollinger)
