China's soybean imports surge to record on Brazil harvest

China imported 13.55 million metric tonnes of soybeans in June 2026, a 10.5% increase over June 2025 and the highest June volume ever recorded. The surge was driven by Brazil’s record soybean harvest and the clearance of logistical bottlenecks at Chinese ports. Analysts expect monthly imports to remain above 10 million tonnes in July and August, with total 2026 imports potentially matching the 2025 record.

In the United States, new‑crop soybean export sales to China jumped, with China taking 133,900 tonnes in the week ending 9 July, reflecting competitive U.S. prices against Brazil. U.S. Treasury official Scott Bessent said the existing 25‑million‑ton annual purchase commitment means “soybeans are all taken care of,” tempering expectations for a higher Chinese buying target.

The combined developments highlight China’s reliance on Brazil’s harvest and its continued, though moderated, demand for U.S. soybeans as it works to meet its pledged import levels through 2028.