China's Shifting Soybean Imports: Brazil Surpasses U.S. Dominance


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In March, China's soybean imports from the United States decreased by 50% year-over-year. This decline is largely due to China's growing inclination towards competitively priced Brazilian soybeans, buoyed by Brazil's strong harvest season. Brazilian soybeans now represent more than half of China's total soybean imports for the month, experiencing an 81% increase compared to the previous year. As a result, Brazil holds a dominant 54% share of China's soybean imports, while the U.S. trails with a 38% share.