BEIJING, CHINA — China’s soybean imports from Brazil grew substantially in November during a period traditionally dominated by freshly harvested US supplies, Reuters reported, citing China’s General Administration of Customs.

The customs data showed Brazil shipped 5.2 million tonnes of soybeans to China in November, a 108% increase year-on-year. Attractive prices for the South American nation’s record crop drew Chinese buyers during the month, while drought on the Mississippi River and in the Panama Canal slowed US purchases.

China’s total soybean imports in November were 7.92 million tonnes, but the US share was down 30% to 2.3 million tonnes from 3.29 million tonnes a year earlier. 

For the first 11 months of 2023, total soybean shipments from Brazil into China were 64.97 million tonnes, up 25% from the previous year. Total US imports so far this year are down 8% at 20.36 million tonnes, the data showed.

Brazil also dominated China’s corn imports with 3.22 million tonnes in November. China logged record corn imports of 3.59 million tonnes in November, adding to a record domestic crop and further pressuring prices in the world’s second-biggest grower. 

With 1.4 billion people, China is the world’s top consumer of soybeans and second-largest user of corn.