China soybean imports from Brazil fall in July, U.S. imports up



BEIJING, Aug 20 (Reuters) - China's soybean imports from Brazil dropped in July from a year ago, while shipments from the United States increased, customs data showed on Saturday, as high prices curbed demand for South American cargoes.

China, the world's top soybean buyer, imported 6.97 million tonnes of the oilseed from Brazil in July, down from 7.88 million tonnes a year earlier, data from the General Administration of Customs showed.

Total imports last month dropped 9% from a year before to 7.88 million tonnes, the lowest number for July since 2016, as high global prices and weak demand curbed appetite for the oilseed, customs data showed earlier.

U.S. arrivals in July reached 377,642 tonnes, up from 42,277 tonnes in the same month last year, according to customs data.

Summer arrivals are typically dominated by Brazilian origin beans, but bad weather has pushed up prices of the oilseed in the South American country at a time of poor demand in China.

Demand for soymeal from the feed sector has come under pressure after hog farmers made huge losses earlier this year. Industrial feed production fell almost 7% in July versus a year ago, according to the China Feed Industry Association.

Crushers in the key processing hub of Rizhao are currently losing about 610 yuan ($89.84) from each tonne of soybeans processed and crushing margins have been negative since mid April. CNSOY-RZO-MRG

For the first seven months of the year, China brought in 34.68 million tonnes of Brazilian beans, up from 34.01 million tonnes in the same period of 2021.

Imports from the United States for January to July came in at 17.92 million tonnes, down from 21.61 million tonnes the previous year.

($1 = 6.7895 Chinese yuan)
Reporting by Dominique Patton; Editing by Sam Holmes

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.