China’s October soy imports at lowest since March 2020

According to customs data released on Sunday, China’s soybean imports in October were down 41.2% from a year earlier, reaching the lowest level since March 2020,  as weak crush margins constrained demand and Hurricane Ida limited US exports.

The world’s largest buyer of soybeans brought in 5.11 million tons of the oilseed in October compared to 8.69 million tons a year earlier, according to data from the General Administration of Customs.

China’s soybean imports in October were also down from September’s 6.88 million tons volume.

China brought in 79.08 million tons of soybeans in the first ten months of the year, down 5% from the previous year.

Source: Money Times

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