China cuts soybean purchases by more than 2 mln tons in August

Soybean shipments to China from five key exporting countries declined sharply in August. According to Oil World, Brazil, Argentina, the US, Canada and Ukraine shipped a combined 11.91 mln tons of soybeans to China, down 2.2 mln tons from August last year.

Over the past three months, combined shipments from these countries to China totaled 28.75 mln tons, 2.8 mln tons below the year-earlier level. Analysts expect Chinese imports from these origins to remain lower year-on-year in July–September. At the same time, exporters are redirecting more soybeans to other markets, including Mexico, Egypt, Pakistan, Bangladesh, Iran, Indonesia and Turkey.

The US exported around 1.65 mln tons of soybeans in August, down from 2.30 mln tons a year earlier. Major destinations included the EU with 250 thsd tons, Mexico with 240 thsd tons, and Indonesia and Japan with 210 thsd tons each. US shipments remained relatively low in early September but are expected to accelerate in the coming weeks.

Argentina recorded an especially sharp decline, with soybean exports falling to just 300 thsd tons from 1.73 mln tons in August last year. However, Oil World expects Argentine shipments to increase substantially in September and October.

Brazil, meanwhile, continues to strengthen its position in the global market. The country exported 9.81 mln tons of soybeans in August, up from 9.33 mln tons a year earlier. In 2025/26, Brazilian soybean exports reached a record 114.4 mln tons, compared with 101.9 mln tons in the previous season and 81.1 mln tons five years ago.

Tags: China, soybean, imports