China’s soybean imports to China from the U.S. rose 13-fold in September

According to the General Administration of Customs, China’s soybean imports in September 2024 totaled 11.37 million tons, down 6.3% from the previous month and up 59% year-on-year. From January to September, the cumulative volume of China’s soybean imports was 81.85 million tons, up 8.1% from the same period last year. The volume of soybean imports decreased in September but remains high. Pressure on the market by imported soybean supplies persists, limiting the upward trend in soybean meal prices. According to government data released on Sunday, China’s soybean imports from the United States rose 13 times in September from a year earlier, marking the sixth consecutive month of growth. The world’s biggest soybean buyer imported 1.71 million tons of soybeans from the US last month, up 132,680 tons from a year earlier, according to the General Administration of Customs. However, import volumes from the U.S. are still significantly less than the top producer, Brazil. Brazilian ...