Members of a trade delegation from China, the world’s top soybean importer, signed agreements to buy a record 13.18 million metric tons of the oilseed worth around $5.3 billion from United States shippers after annual negotiations. US industry representatives and members from the Chinese delegation announced the agreements on a conference call after talks in Des Moines, Iowa. US shippers outlined in 24 agreements included Archer-Daniels-Midland Co, Cargill Inc and Louis Dreyfus Group. The cargoes are set for delivery by Aug 31, according to the US Soybean Export Council…Full Article: China Daily Sept 2015

Key Point

  • From 1 October 2015 to 30 September 2016, China will reportedly import 79 million MTs of soybeans.

ChinaAg Comment

  • From 2000 to 2013, China’s soybean imports increased from 10.4 million MTs to 63.3 million MTs, with 2013 being the first time purchases surpassed the 60 million MT mark. In general, the U.S. has been China’s top supplier, but Brazil overtook the U.S. in 2006 and 2013. Both the U.S. and Brazil have exported more than 20 million MTs of soybeans to China since 2011, with Brazil exporting more than 30 million MTs in 2013 (vs. the U.S’s 22 million MTs).

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