Table of Contents
- 1 Why did China stop buying US soybeans?
- 2 Who does China buy soybeans from?
- 3 How much of US soybeans are exported to China?
- 4 Why is China buying so much soy?
- 5 Who supplies China with soybeans?
- 6 Who does the US export soybeans to?
- 7 Why did China stop buying soybeans from the US?
- 8 Will China buy $40 to $50 billion in agricultural products?
Why did China stop buying US soybeans?
CHICAGO/BEIJING/SINGAPORE (Reuters) – State-owned Chinese firms bought at least three cargoes of U.S. soybeans on Monday, even as sources in China said the government had told them to halt purchases after Washington said it would eliminate special treatment for Hong Kong to punish Beijing.
Does the US sell soybeans to China?
Soybeans matter because the United States has sold more than 50\% of all its soybean exports to China since 2008, with only one exception. In fact, the year President Trump was elected, China accounted for better than 62\% of the $22.88 billion total.
Who does China buy soybeans from?
China bought 9.79 million tonnes of the oilseed in September, up 19 per cent from a year earlier, Chinese customs data shows. Nearly three-quarters of those imports came from Brazil – the biggest producer and exporter of soybeans – while the US supplied 12 per cent, according to S&P Global Platts.
Where is China buying soybeans?
China is making big purchases of soybeans from Brazil, an unusual move for this time of year. The Asian nation needs soybeans to feed its expanding hog herds, and November is a prime time for the U.S. to sell its crops, having just finished the harvest.
How much of US soybeans are exported to China?
Roughly 60 percent of US soybean exports (or put another way, 25 percent of the total US soybean crop) finds its way to China. There have been significant swings in the US-China agriculture trade over the past few years.
Who is China buying soybeans from?
Last week China bought at least 30 soybean cargoes from the U.S. and Brazil, with more than half coming from the South American nation, according to people familiar with the matter. The move shows that Brazil, already the No. 1 shipper, is becoming ever more competitive on world markets.
Why is China buying so much soy?
There has been a surge in domestic demand for raw soybeans in China as the country’s pig herd recovers from the African swine fever. China has been ramping up US beans in 2020-21 marketing year, accounting for over 66\% of total US soy exports in September itself, the USDA said.
How much soy does the US export to China?
As of April 1, China has purchased 2.6 million metric tons of US soybeans, smashing the previous record of 2.4 million tons for new soybean crop sales in 2015. In total, the US soybean industry is expecting about 36 million metric tons in soybean exports to China in the 2020/21 marketing year, according to Sutter.
Who supplies China with soybeans?
That year, Brazil was China’s largest soybean supplier with an import market share of 63.5 percent….Market share of leading soybean suppliers to China in 2020, by country.
| Characteristic | Market share |
|---|---|
| – | – |
Where does the US export their soybeans to?
China
In that year, China imported nearly 22.58 million metric tons of soybeans from the United States….Major countries of destination for U.S. soybean exports in 2019 (in million metric tons)
| Characteristic | Exports in million metric tons |
|---|---|
| China | 22.58 |
| Mexico | 5.15 |
| Egypt | 2.79 |
| Japan | 2.45 |
Who does the US export soybeans to?
Through July 29, U.S. soybean export sales for the 2021-22 year starting on Sept. 1 totaled 10.6 million tonnes (390 million bushels), and three-fourths were to China or unknown. That is 29\% off the year-ago total but 13\% above the five-year average.
How much US soybeans does China buy?
China buys 1.93 million tonnes of U.S. soybeans.
Why did China stop buying soybeans from the US?
This is because trade tensions led China to stop buying U.S. soybeans. Instead, China has turned to Brazil. In September, Yahoo Finance reported that Brazilian soybean exports to China had already begun increasing and were expected to go higher.
How is the trade war with China affecting American agriculture?
President Trump’s trade war with China is having a major impact on agricultural industries, most notably on U.S. soybean exports. According to Torsten Slok, chief international economist at Deutsche Bank, U.S. soybean exports to China are down 98 percent in 2018.
Will China buy $40 to $50 billion in agricultural products?
When Trump declared that a Phase One deal had been struck with China in October he said that China would be buying $40 to $50 billion in U.S. agricultural products. However, no time frame has been given (is this over multiple years?) and the details for Phase One are still being hammered out.
What are the top US agricultural exports to China?
Soybeans were the top U.S. agricultural export to China last year. This is because trade tensions led China to stop buying U.S. soybeans. Instead, China has turned to Brazil. In September, Yahoo Finance reported that Brazilian soybean exports to China had already begun increasing and were expected to go higher.