China's Soybean Imports From the US Soar in August - Forex News by Strategia Forex
China's soybean imports from the US soar in August

China’s Soybean Imports From the US Soar in August

Posted Wednesday, September 25, 2019 by
Arslan Butt • 1 min read

China has imported six times more soybean from the US in August 2019 than it did a year ago. Data released earlier today reveals that a thaw in US-China trade tensions helped more shipments of soybean clear customs and make its way into Chinese markets.

China imported 1.68 million tons of soybean from the US last month, significantly higher than the 265 tons it imported during August 2018. August’s imports were also 81% more than July’s imports of around 911 tons.

China is the leading importer of soybeans in the world, but its imports of the oilseed from the US shrank significantly during H2 2018 over escalation of the trade war as both sides hiked tariffs on each other’s imports. However, a momentary truce late last year helped Chinese buyers resume importing soybean from the US.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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