China expected to have record soybean imports in July with low prices and trade fears about Trump

By Naveen Thukral and Mei Mei Chu SINGAPORE/BEIJING (Reuters) - China is expected to import record volumes of soybeans in July, attracted by lower prices and the prospect of Donald Trump returning to the presidency and reigniting trade tensions between Beijing and the United States, once China's main supplier of the oilseed. The world's biggest soybean importer has seen higher volumes in recent weeks, traders and analysts said. "Chinese soybean importers are buying larger volumes as they are trying to protect themselves as much as possible from a possible increase in US tariffs if there is a trade war after the US elections," said Vitor Pistoia, an analyst at Rabobank in Sydney. However, the impact of any trade escalation is likely to be muted for Chinese soybean buyers, given the drop in market share for U.S. beans that was triggered during Trump's presidency. The Trump administration's tariffs on Chinese goods have provoked retaliation from Beijing, including a 25% tariff on ...