China’s state stockpiler Sinograin will auction 160,000 metric tons of imported soybeans on March 25 to address supply shortages that have forced several processors to halt production. The soybeans, harvested between 2022 and 2023, will be delivered between April 1 and May 15, according to the National Grain Trade Centre.
Key Details:
Auction Timing: First in two months, following a January sale of 79,000 metric tons.
Supply Challenges: Delayed Brazilian shipments and slow customs clearances have tightened supplies, disrupting processing operations.
Market Impact: The auction will alleviate short-term shortages, but the timing coincides with a surge in Brazilian soybean arrivals.
Import Trends:
China, the world’s largest soybean buyer, is set to import a record 31.3 million metric tons from April to June, mostly from Brazil.
The surge follows Beijing’s retaliatory tariffs on $21 billion worth of U.S. agricultural goods, including soybeans, amid escalating trade tensions.