U.S. Exporters Sell 132,000 Tons of Soybeans to China as Brazil Holds 60% Import Share
Updated
Updated · CNBC · Jun 23
U.S. Exporters Sell 132,000 Tons of Soybeans to China as Brazil Holds 60% Import Share
3 articles · Updated · CNBC · Jun 23
Summary
132,000 metric tons of U.S. soybeans were sold to China for 2027 delivery on June 17-18, with U.S. industry officials saying Chinese buyers have also committed to nearly 1 million tons in the past week and a half.
Those sales mark an early start to Beijing's new buying commitments after China already completed its 12 million-ton purchase for the marketing year ending August 2026 and began buying under a separate 25 million-ton annual pledge.
U.S. sellers are trying to regain ground by pitching crop quality in Beijing, arguing drier pre-harvest conditions in Illinois than in Brazil support better soybean condition, nutrition and feed value.
Brazil still dominates the market: it supplied more than 60% of China's soybean imports in the first five months of 2026, versus 23% for the U.S., after trade tensions helped shift share away from American farmers.
The recovery remains limited—U.S. soybean exports to China fell 76% last year to $3.1 billion from a 2022 peak of $17.9 billion, and industry leaders expect volumes to stay around 25 million to 30 million tons near term.