U.S. Soybean Farmers Anxiously Watch Brazil Sell More and More to China

File image of imported soybeans from Brazil being unloaded at Longkou Port Area in China's northeast Shandong Province. (Photo by Tang Ke / CFoto / CFOTO via AFP)

Chinese soybean imports from Brazil rose by 2.4% in August compared to last year, according to customs data, a modest increase but one that nonetheless causes considerable consternation for U.S. farmers who have yet to sell a single bean to China this year.

Chinese buyers have started to moderate their purchases of South American soybeans after going on a record shopping spree earlier this year. Analysts say the Chinese are now topping off their stockpiles as they wind down the annual buying season.

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by Eric Olander

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