Chinese buyers ordered as many as 75 cargoes of Brazilian soybeans this month as low prices attracted buyer interest

On July 18th, according to foreign media reports, informed sources said that in the first two weeks of July, Chinese buyers booked as many as 75 ships of Brazilian soybeans (about 4.50 million tons), because the depreciation of the real has improved the export competitiveness of Brazilian soybeans. These soybeans are mainly delivered in August, and some will be delivered next year. This may be related to the low price of Brazilian soybeans, prompting buyers to expand their purchases. In the first five months of this year, China's imports of Brazilian soybeans increased by 23% compared with the same period last year, while the amount of soybeans imported from the United States almost halved year-on-year. So far, China has ordered only more than 100,000 tons of new beans delivered in the United States 2024/25 year, which is equivalent to less than 10% of the same period last year.