Beijing | Reuters — China imported no soybeans from the United States for a third straight month in November, as buyers turned to South American supplies amid fears of a shortfall if the trade war with Washington dragged on.
Following a trade truce in late October, China has stepped up purchases of U.S. cargoes, with traders saying that more than 7 million metric tons have been purchased since then.
In late November, Reuters reported, citing a shipping schedule, that two cargo vessels would carry the first U.S. soybean shipments to China since May.
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As these cargoes have not yet arrived, they do not appear on the customs website.
Argentina, Brazil imports jump
U.S. soybean imports fell to zero in November from 2.79 million metric tons a year earlier, data from China’s General Administration of Customs showed on Saturday.
Arrivals from Brazil jumped 48.5 per cent year-on-year to 5.85 million tons, accounting for 72 per cent of total imports, while shipments from Argentina rose 633.6 per cent to 1.78 million tons, or 21.9 per cent of the total.
The world’s top soybean buyer imported 8.11 million metric tons in November and 103.79 million tons in the first 11 months, putting full-year arrivals on track for a record amid strong purchases from South America and a trade truce with Washington.
From January to November, China imported 76.7 million tons from Brazil, up seven per cent year-on-year, and 6.24 million tons from Argentina, up 62.5 per cent year-on-year.
U.S. soybean imports fell 5.9 per cent year-on-year to 16.82 million tons from January to November.
Sinograin held three auctions this month to make room for U.S. soy arrivals.
