#Brazil's exports in May (10.5 mmt) were down 15% from last May. Considering the time it takes for #soybeans to sail from Brazil to #China, China's June imports seem unlikely to be stellar, either. Brazil's Jan-May shipments are still up 5% YOY, padded by huge volumes in Jan-Feb.
#China's imports of #soybeans totaled 7.36 million tonnes in May, down 24% from the same month a year ago and down 4% from April. Jan-May imports totaled 31.8 million tonnes, down 12% on the year. ASF-driven demand losses and the U.S. trade war have been contributing factors.
They still want beans...from somewhere other than us.