China set for record soybean imports in 2024 ahead of Trump's inauguration
Adds comments and prices in paragraph 3, 4, 6, 10, 11
By Mei Mei Chu
BEIJING, Nov 7 (Reuters) -China imported 8.09 million metric tons of soybeans in October with buyers rushing to stockpile before Donald Trump takes office early next year, as the world's top soybean buyer heads for its largest annual imports on record.
October arrivals were the biggest for the month in four years, surging 56% from 5.18 million tons a year ago, according to Reuters' calculations of customs data released on Thursday.
"The October soybean imports were 600,000 higher than our initial estimate," said Rosa Wang, analyst at Shanghai-based agro-consultancy JCI.
The jump comes as crush margins in China's key processing hub of Rizhao improved from a loss of about 600 yuan ($83.72) per ton of soybean processed in August to a loss of 75 yuan ($10.47) CNSOY-RZO-MRG.
Exporters in the United States had raced to ship a record-large U.S. harvest to China ahead of the U.S. presidential election and fears of renewed trade tensions, traders and analysts said.
"We still estimate very high imports of soybeans in the following months as Chinese buyers rush" to secure stocks before Trump takes office in January, Wang said.
Total soy imports in the first 10 months of 2024 reached 89.94 million tons, up 11.2% year-on-year and close to last year's imports of 99.41 million tons, the customs data showed. CNC-SOY-IMP
China imported 100.31 million tons of soy in 2020, its highest ever.
Tariff threats from president-elect Trump's campaign speeches are prompting some Chinese importers to shun U.S. shipments from January onward, traders and analysts said.
China's most active soymeal futures on the Dalian Commodity Exchange DCMcv1 rallied 3.6% after Trump recaptured the White House on Tuesday with a sweeping victory.
The most active rapeseed meal futures on the Zhengzhou Commodity Exchange CRSMcv1 jumped 4.76%.
China's push to shift its sources of soybean supply to Brazil since 2018 has put it in a better position to impose tit-for-tat tariffs on U.S. farm goods with less harm to its food security if trade friction flares with Washington.
($1=7.1670 Chinese yuan renminbi)
Reporting by Mei Mei Chu; Editing by Muralikumar Anantharaman and Shri Navaratnam
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
