US soybean exports to China dry up

China imported no soybeans from the US in September, the first time since November 2018 that shipments fell to zero, while South American shipments surged from a year earlier, as buyers shunned American cargoes during the ongoing trade dispute between the world’s two largest economies.

- ELLA CAO LEWIS JACKSON

Imports last month from the US fell to zero from 1.7 million metric tonnes a year earlier, data from China's General Administration of Customs showed yesterday.

Shipments fell because of the high tariffs China has imposed on US imports and as previously harvested US supplies, known as old-crop beans, have already been traded. China is the world's biggest soybean importer.

"This is mainly due to tariffs. In a typical year, some old-crop beans would still enter the market," said Wan Chengzhi, an analyst at Capital Jingdu Futures.