China’s soybean imports saw a significant shift in May, with a substantial increase in supplies from the United States contrasting with a drop in arrivals from Brazil, the dominant supplier.
According to data from China’s General Administration of Customs, the world’s biggest soybean buyer imported 1.27 million metric tons of the oilseed from the U.S. last month, a 156% surge from a year earlier. This marked a sharp turnaround from the sluggish U.S. soybean sales to China observed earlier this year, as traders took advantage of cheaper and more plentiful Brazilian soybeans.
However, China’s soybean imports from Brazil, which typically make up the majority of its total soybean imports, dropped 19% in May to 8.8 million metric tons. This was the first decline in Brazilian soy imports to China so far this year, attributed to flooding disruptions during the country’s harvest season.
For the January-May period, Brazil’s soybean shipments to China were up 23% to 24.71 million tons, while U.S. shipments fell 34% to 10.85 million tons. China also imported 212,492 tons of soybeans from Argentina in the first five months, though there were no arrivals from the country in May.
The data reflects a significant shift in China’s soybean sourcing, with U.S. imports spiking in May, even as supplies from the dominant provider, Brazil, declined for the first time this year due to weather-related disruptions.