Reference News Website August 16 report - According to Brazil's 247 News, on August 15, as the U.S. soybean export season is in full swing, China's procurement focus has shifted to South American suppliers such as Brazil.
The "Financial Information" website of Brazil reported that Chinese importers have completed a procurement plan of about 8 million tons for September, all from South America. Half of the demand for October (about 4 million tons) has also been secured with South American sources.
Analysts pointed out that China's strong procurement trend in the third quarter suggests that the industry is stockpiling inventory in advance to prepare for potential supply risks in the fourth quarter.
Traditionally, China's procurement of U.S. soybeans mainly takes place from September to January of the following year, after which Brazilian soybeans once again dominate the market.
Data shows that China imported approximately 105 million tons of soybeans in 2024. (Translated by Han Chao)
Original article: https://www.toutiao.com/article/7539072216655331855/
Statement: This article represents the personal views of the author. Please express your opinion by clicking the [Up/Down] buttons below.