China imported 10.22 million metric tons of soybeans in May, according to customs data released on Friday. This figure is lower than the import levels from a year ago but exceeds April's shipment volumes, driven by strong crush margins that bolstered demand for cheaper Brazilian beans.

May imports by the world's largest soybean buyer were down 15% from a record 12.02 million tons in May 2023 and fell short of the anticipated 11-12 million tons. From January to May, total imports reached 37.37 million tons, a 5.4% decrease compared to the same period last year, as reported by the General Administration of Customs.

Rising hog prices in China, the world's largest pork market, have sustained demand for soybeans, which are processed into soymeal for animal feed. The majority of these imports come from Brazil, the top producer, which typically ships most of its soybean crop between March and June. However, this season's floods have disrupted Brazil's harvest, reducing production estimates and affecting the delivery of freshly harvested soybeans to drying and storage facilities.