Market News & Headlines >> China's Soybean Imports Fall
China’s December soybean imports plunged more than 40% versus a year earlier amid the ongoing U.S.-China trade war and reduced demand because of African swine fever and government efforts to cut the protein content of livestock feed.
China imported 5.72 million metric tons of soybeans in December, compared with 5.38 million tons in November and 9.55 million a year earlier, according to preliminary data released by China’s General Administration of Customs (GAC) on Monday.
China’s calendar year 2018 soybean imports totaled 88.03 million metric tons, down 7.9% from a year earlier, the GAC said, marking the first year-over-year decline in imports since 2011.
The low December imports came with Brazil running low on old-crop supplies and Chinese crushers facing negative margins amid weak soymeal prices.
The slow Chinese imports helped trigger declines in Chicago Board of Trade soybean futures on Monday and Tuesday.