US Soybean Exports to China Come to a Halt

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China recently stopped importing soybeans from the United States (US) as tensions rise during ongoing trade disputes. Last month, China announced a plan to impose a 25 percent tariff on US soybean shipments. With prices at $420 per tonne this could mean taxes could rise to over $100 per tonne, concerning many US farmers and traders. China is the top buyer of US soybeans, but sales to China have dropped, down 10 percent in the last month compared to the same time last year. As of 19 April, the country cancelled a nearly 62,700 tonne US soybean purchase for the market year ending on 31 August. With the continued trade war China could look to the number two and three producers—Brazil and Argentina, respectively—to supply their demand into the fall. Gro Intelligence subscribers can analyze past and present trade data to assess developing soybean market trends.

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