China's April imports of US soybeans more than double

- China's soybean imports from the United States in April more than doubled from a year earlier, as cargoes booked after Beijing resumed purchases late last year gradually arrived at Chinese ports.

A May 14-15 summit between Presidents Donald Trump and Xi Jinping left unchanged an existing soybean purchase commitment of 25 million metric tons annually through 2028, according to senior U.S. officials and a White House statement.


KEY DETAILS:

  • China imported 3.33 million tons of soybeans from the United States in April, up from 1.38 million tons a year earlier, data from the General Administration of Customs showed on Wednesday.

  • Imports from Brazil rose 3.3% year-on-year to 4.75 million tons from 4.6 million tons.

  • Total soybean arrivals climbed 40% in April to 8.48 million tons from a year earlier, although volumes remained below analysts' expectations of more than 10 million tons.

  • In the first four months, shipments from the United States fell 48% year-on-year to 6.7 million tons, while imports from Brazil jumped 39.6% to 12.7 million tons.

  • Beijing has so far fulfilled a U.S.-stated pledge to buy 12 million tons of soybeans. Traders said fresh buying is likely to resume from October, when the new U.S. harvest becomes available.