Global soybean sales more than doubled in October

According to the results of October this year. key countries supplying soybeans to the world market increased oilseed shipments from September 7.6 million tons to 16.7 million tons, which is also 1 million tons higher than the same month last year (October 2021). Such data were published by specialists of the Hamburg analytical agency OilWorld (Germany) in their report.

According to German experts, sales of soybeans from the United States increased almost fivefold over the month – from 2.1 million tons to 9.9 million tons. Crop exports from Argentina slightly less than doubled, from 1.1 million tons to 1.95 million tons. Brazil in this period shipped 4.06 million tons of oilseeds, which is generally in line with September’s figure of 4.08 million tons.

“Total shipments of soybeans from the countries of South and North America to China in October amounted to 12.5 million tons, which is significantly higher than the previous month (4.2 million tons). In particular, 7.4 million tons of soybeans were shipped to China from the United States (7.5 million tons last year), as well as from Brazil – 3.2 (2.6) million tons and Argentina – 1.8 (0 .3) million tons,” the report says.

According to China’s Customs Statistics, since the beginning of the year (January-October), the country has imported only 73.2 million tons of soybeans, which is the least for the period under review in the last two years. At the same time, OilWorld (Germany) experts predict that in the next 2 months, beans will begin to enter the Asian markets more actively.

Tags: China, Brazil, soybean, USA, Argentina