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Brazil Soybean Torrent Heads for China; U.S. Trickle Dries Up

China imported 8.5 million metric tons of soybeans during April 2026, more than double the 4 mmt imported during March. The April total was 2.4 mmt ahead of imports in April last year. Detailed April import data have not been released yet. During March 2026 China imported 1.85 mmt from the U.S., 1.4 mmt from Brazil, 400,000 mt from Argentina, and 247,500 mt from Russia. The volume arriving from Brazil is set to balloon in coming months. 

China customs administration.

Brazil's exports to China have been ramping up as this year's soybean crop--estimated by USDA to be a record-breaking 180 mmt--makes its way to ports. Brazil's soybean exports to China were a record-high 11.58 mmt during April. The April volume was up about 1.6 mmt from March. Some March shipments may have been delayed to April by stringent port inspections that caused a backlog of cargoes--the inspection issue at both Brazilian and Chinese ports apparently has been cleared up. Exports to China for 2026 match last year's 27.6 mmt for January-April. The March-April torrent of Brazilian exports is expected to clear customs in China in June-July. 

Brazil comex database.

Brazil has exported 40 mmt of soybeans in the first 4 months of 2026, of which 69% were bound for China. Spain, Netherlands and other EU countries collectively accounted for 8% and Türkiye less than 4%.

Brazil comex database.

The U.S. has shipped about 10.7 mmt of soybeans to China in the 6 months since the late-October Trump-Xi summit where China reportedly pledged to buy 12 mmt of U.S. soybeans. That includes a little over 1.5 mmt inspected for export to China during April. Perhaps the final shipments of the 12-mmt pledge will take place in May. Those soybeans are being stashed in China Government reserve warehouses as the Chinese market gears up to process 10-to-11 mmt of Brazilian soybeans set to arrive monthly beginning in June. 

USDA Global Agricultural Trade System and export inspections reports.


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