The Chinese market would increase its demand for Latin American soybeans
Photo: Unsplash.
According to a report by the media outlet Ámbito, due to record soybean harvests in Uruguay and Brazil, and the high fluctuation in the prices of this product, the People’s Republic of China would increase its soybean imports from these countries, a development that would benefit producers in both Latin American nations.
According to analysts on the subject, it is expected that soybean imports by the People’s Republic of China will reach at least 11 million tons between the months of May and June, which would represent a record for the current period and indicate a 3% increase compared to the year 2024.
It is worth noting that between March and April of this year 2025, imports of this product amounted to 9.6 million metric tons, the lowest figure recorded since 2013.
Currently, Brazil’s harvests are estimated to be between 167 and 170 million tons, a fact that could benefit the Uruguayan market, as it would also allow the country to achieve a record soybean harvest, enabling producers to reach new markets for their products.
Regarding soybean prices in the international market, it was reported that they rose by 10 dollars during the week of May 12 to 16, resulting in a price of 360 dollars per ton. However, in the following week, the price decreased again, in a context where Uruguayan producers achieved a record soybean harvest.
For now, in the Chicago Board of Trade grain market, soybean positioning closed 0.17% lower compared to the figure recorded on Friday, May 16. In contrast, in the Uruguayan local market, the value rose from 350 to 352 dollars per ton.
However, on Monday, May 19, the price of soybeans fluctuated again, settling at 386 dollars per ton for the July position. This increase may be due to the rise in oil prices, as a result of mandatory biofuel usage, as well as uncertainty in the soybean market and exchange rate volatility.
Last but not least, it is worth highlighting that in Uruguay’s case, prices managed to cover around 83% of total production, much of it during the week of May 12 to 16, when the chance of kilos closed at 360 dollars. This Monday, prices ranged between 350 and 352 dollars as the maximum, and for corn and wheat, prices fell due to the weakening of the dollar.
Main Source
China aumenta sus importaciones de soja desde Sudamérica en una zafra récord para Uruguay – Ámbito
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