China did not import any U.S. soybeans for the second consecutive month in October, even as its total purchases surged to a record high on the back of heavy buying from South America. The latest data from China’s General Administration of Customs shows that U.S. soybean arrivals dropped to zero, compared with more than 540,000 tons in the same month last year. The decline reflects both the high tariffs imposed earlier this year and the exhaustion of existing U.S. stocks, leaving little incentive for Chinese buyers to turn to American supply.
While U.S. shipments collapsed, Brazil strengthened its position as China’s primary soybean source. October imports from Brazil rose nearly 29% year-on-year to 7.12 million tons, accounting for more than three-quarters of China’s total soybean intake. Purchases from Argentina also increased, climbing over 15% to 1.57 million tons and contributing roughly one-sixth of total imports.
In total, China brought in a record 9.48 million tons of soybeans in October. From January to October, imports from Brazil reached 70.81 million tons up 4.5% from last year while shipments from Argentina climbed nearly 24%.
Despite the recent drought in arrivals, earlier buying in 2025 has kept year-to-date imports of U.S. soybeans at 16.82 million tons, an 11.5% increase from the previous year. After months of limiting American purchases during heightened trade tensions, Chinese buyers began returning to the U.S. market following late-October discussions between the two nations’ leaders.
State-owned COFCO has taken the lead in securing new U.S. cargoes, booking more than 1 million tons since late October, according to the U.S. Department of Agriculture. Markets are now watching to see whether China will make the additional large-scale purchases needed to reach the 12-million-ton year-end target announced by Washington a figure Beijing has yet to officially confirm.
