China imported record amounts of soybeans in July, mostly from Brazil

China imported a record amount of soybeans for the month in July, significantly increasing supplies from Brazil amid increasing tensions with the United States.

 

The world's largest soybean consumer imported 11.67 million tons in July, which is 4.8% lower than in June, but 18.5% higher than the corresponding figure in July 2024 (9.85 million tons), although analysts had forecast imports at 10.48 million tons. In total, in the period January-July, deliveries increased by 4.6% compared to the same period last year to 61.04 million tons.

 

"This indicates that the market is preparing for increased uncertainty between China and the US," the agricultural consulting company JCI believes. The company's experts predict that in August and September, soybean imports will also exceed 10 million tons, and most of the oilseed will be purchased from Brazil, which is currently the largest supplier of soybeans to China.

 

“Brazil’s record soybean harvest has allowed the country to increase export shipments, which will last longer than usual, possibly even into the fourth quarter,” analysts at Capital Jingdu Futures report.

 

Tensions between the United States and China are adding to concerns among Chinese feed producers about soybean availability. On Tuesday, they contracted about 1.9 million tons of the meal for delivery in October-January, the largest daily purchase in 2025. However, Chinese buyers have not yet contracted any U.S. soybeans for the fourth quarter as they await the outcome of trade talks between Beijing and Washington.

 

Capital Jingdu Futures analysts do not rule out that in the second quarter there will be a temporary imbalance between supply and demand in China, and in the fourth quarter the demand for imported soybeans will increase significantly.

 

At the same time, China has a surplus of soybean meal, which was previously heavily imported. Stockpiles of meal have increased, and demand from feed producers has decreased.