China’s soybean imports hit highest November since 2021

China’s soybean imports reached their highest November level since 2021, with full-year arrivals set for a record amid strong purchases from South America and a US trade truce. The world’s top soybean buyer brought in 8.11 million metric tons in November, the General Administration of Customs said, up 13.4% from 7.15 million tons a year earlier. In the first 11 months of the year, China’s soybean imports rose 6.9% from a year earlier to 103.79 million tons, the customs data showed. November shipments were down 14.5% from October. “November soybean imports came in slightly below our expectations,” said Rosa Wang, an analyst at Shanghai-based agro-consultancy JCI. “Looking ahead to (full year) 2025, we expect China’s soybean imports to reach a record high – potentially exceeding 110 million tons – driven by strong commercial buying from Brazil as well as arrivals of US soybeans.” China’s soybean imports have set records from May through October of this year, as buyers sharply ...