——From January to October, China’s soybean imports from the United States decreased by 10.9% year-on-year

November 21st news: Customs data show that China’s imports of Brazilian soybeans in October this year fell by 15% year-on-year, while the amount of soybeans imported from the United States was basically the same as the same period last year.

China imported 2.8 million tonnes of soybeans from Brazil in October, down from 3.3 million tonnes a year earlier. China imported 49.31 million tonnes of Brazilian soybeans in the first 10 months of this year, down 3.44 million tonnes or 6.5% from 52.75 million tonnes in the same period in 2021.

China imported 775,331 tons of soybeans from the United States in October, slightly lower than the 772,938 tons in the same period last year. China imported 20.1 million tons of U.S. soybeans in the first 10 months of this year, down 2.47 million tons or 10.9 percent from 22.57 million tons in the same period a year earlier.

China’s total soybean imports in October were 4.14 million tons, down 19% year-on-year, the lowest monthly import volume since 2014. China’s soybean imports totaled 73.18 million tonnes in the first 10 months of this year, down 7.4 percent year-on-year, as domestic soybean crushing profits were meager or even at a loss for most of the year, leading to waning interest in imports from crushers.