Data from China's General Administration of Customs showed that Brazil exported 5.2 million tons of soybeans to China in November, an increase of 108% compared to the previous year. Attractive prices for the South American country's record harvest attracted Chinese buyers during the month, while drought in the Mississippi River and Panama Canal slowed U.S. purchases.

China's total soybean imports in November were 7.92 million tonnes, but the US share fell 30% to 2.3 million tonnes from 3.29 million tonnes the previous year.

In the first 11 months of 2023, total soybean shipments from Brazil to China were 64.97 million tons, an increase of 25% compared to the previous year.

Brazil also dominated corn imports from China, with 3.22 million tons in November.

(Source: Blog ForTe)