China's soybean imports from January to February significantly decreased, while soybean imports from Brazil and Argentina surged.

China imported 1.49 million tons of soybeans from the United States in January and February, down 83.7% from 9.13 million tons in the same period last year. Since late October last year, buyers have purchased approximately 12 million tons of U.S. soybeans. Imports of soybeans from Brazil in January and February totaled 6.56 million tons, an increase of 82.7% year-on-year, as private buyers avoided high-tariff U.S. soybeans. Imports of soybeans from Argentina surged to 3.27 million tons in January and February, compared to 111.6k tons in the same period last year. Shanghai Huiyi Consulting analyst said that Argentina’s suspension of export taxes in September led to a surge in China’s soybean purchases, with the goods gradually arriving at ports over the past few months and boosting import volumes.