China's September soybean imports reach near-record as US trade war drags on

By Ella Cao and Lewis Jackson

BEIJING, Oct 13 (Reuters) - China's soybean imports in September reached the second-highest level on record, a Reuters calculation of customs data released on Monday showed, driven by strong purchases from South America as trade tensions with Washington curbed purchases from the U.S.

The world's top soybean buyer brought in 12.87 million metric tons in September, according to the General Administration of Customs, up 13.2% from 11.37 million tons a year earlier.

September also marked another month this year in which China's soybean imports have hit record highs, following May, June, July and August.

China's imports in the first nine months of 2025 totalled 86.18 million tons, up 5.3% year-on-year, the Customs data showed. CNC-SOY-IMP

"China's soybean supply outlook has become increasingly secure, supported by strong imports from January to September, a surge in purchases from Argentina during its temporary tax holiday, and continued heavy buying from Brazil," said Rosa Wang, an analyst at Shanghai-based agro-consultancy JCI.

September imports were up 4.8% from August, the data showed.

Most of last month's soybean imports are expected to have come from Brazil, the world's top exporter. Data from Brazil's grain exporter group Anec showed that China imported 6.5 million tons in September, representing 93% of Brazil's total soybean exports.

Late last month, Beijing secured a significant volume of Argentine soybeans, most scheduled for shipment later this year, sidelining U.S. farmers during their critical marketing season.

China has not purchased any U.S. soybean cargoes from this autumn's harvest. Without a deal in place, U.S. exporters stand to lose billions as Chinese crushers continue sourcing from South America.

Earlier this month, U.S. President Donald Trump said he hoped to discuss soybeans with President Xi during their upcoming meeting in South Korea, but later cast doubt on whether it would happen, dimming hopes for renewed Chinese purchases of U.S. soybeans.

"China's soybean supply still faces some risks, such as how China-U.S. trade talks go, possible production problems in South America caused by this year's weak La Niña weather, and changes in demand for soybean meal in China," said Liu Jinlu, an agricultural researcher at Guoyuan Futures.

"These factors are likely to keep affecting soybean imports."