REFILE-US lost soybean market share in China to South American supplies in 2025

ReutersJan 20, 2026 6:12 AM

By Ella Cao and Lewis Jackson

BEIJING, Jan 20 (Reuters) - U.S. soybean market share in China fell to 15% in 2025, down from 21% a year earlier, data from China's General Administration of Customs showed on Tuesday, as shipments halted since September and buyers turned to South American suppliers.

Brazil's share of the market surged to 73.6% in 2025, up from 71% in 2024, while Argentina saw its share jump to 7%, from just 4% the previous year.

Despite the drop in U.S. exports, trade between the U.S. and China resumed following a late-October truce. China is on track to fulfill its commitment to buy 12 million metric tons of U.S. soybeans by February, as outlined by U.S. Treasury Secretary Scott Bessent.

In early December, Reuters reported that at least six bulk cargo vessels were scheduled to load soybeans at U.S. Gulf Coast terminals for China, with a seventh already on the way.

One of these vessels, Ocean Harvest, is set to arrive at Zhangjiagang port in about a week, according to ship-tracking data from LSEG and Kpler.

KEY DETAILS

U.S. soybean imports fell to zero in December from 4.26 million tons a year earlier, marking the fourth consecutive month of zero imports, China's General Administration of Customs data showed.
Brazilian soybean shipments surged 92.5% year-on-year to 5.66 million tons in December, while Argentina saw a 524.7% increase to 1.65 million tons.
China's total soybean imports hit a record 111.83 million metric tons in 2025, up 6.5% from the previous year. CNC-SOY-IMP
Of this total, 82.32 million tons came from Brazil, up 10.3% year-on-year, and 7.89 million tons from Argentina, up 92.4% year-on-year.
U.S. imports fell 24% year-on-year to 16.82 million tons, representing just 15% of China's total imports.
Sinograin has run four auctions since December, in an apparent bid to free up storage for U.S. soybean shipments expected in the coming weeks.

Below are figures on China's imports from its top three suppliers, in metric tons:

Country	Dec-25	Year-on-year % change	Jan-Dec 2025	Year-on-year % change
United States	0	-	16,820,826	-24%
Brazil	5,655,026	92.5%	82,321,219	10.3%
Argentina	1,651,084	524.7%	7,892,172	92.4%

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