# China's Soybean Stockpile Surge: Implications for U.S. Export Season - Benison Media

> China is holding a soybean surplus after record purchases, with stockpiles rising while demand for animal feed stays weak. Traders expect China's import appetite to weaken during the September-December US export season, and China's pig herd and pork output have declined.

- Date: 2024-08-02 · published 2024-08-02T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/12104-china-s-soybean-stockpile-surge-implications-for-u-s-export-season-benison-media
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Weak Chinese crush margins and soymeal demand reduce import needs for US soybeans and meal, pressuring prices near four-year lows.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- HOGS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-08-01 | [China’s soybean meal stockpiles rise, US soybean imports in doubt](https://feedsoft.ai/events/23301-china-s-soybean-meal-stockpiles-rise-us-soybean-imports-in-doubt.md) | +1.0% | +6.9% |
| SOY | 2019-08-21 | [Argentina farmer soybean, corn sales for export more than double as peso falls - Benison Media](https://feedsoft.ai/events/57425-argentina-farmer-soybean-corn-sales-for-export-more-than-double-as-peso-falls.md) | -1.1% | +3.9% |
| SOY | 2017-12-22 | [China tightens import rules for U.S. soybeans](https://feedsoft.ai/events/67345-china-tightens-import-rules-for-u-s-soybeans.md) | +0.3% | +4.0% |
| SOY | 2019-08-21 | [Feed alternatives reducing soybean demand in China - Benison Media](https://feedsoft.ai/events/57649-feed-alternatives-reducing-soybean-demand-in-china-benison-media.md) | -1.1% | +3.9% |
| SOY | 2018-07-12 | [Importers snap up cheap U.S. soybeans as China stops buying](https://feedsoft.ai/events/5850-importers-snap-up-cheap-u-s-soybeans-as-china-stops-buying.md) | +1.5% | +7.7% |
| SBM | 2025-08-01 | [China’s soybean meal stockpiles rise, US soybean imports in doubt](https://feedsoft.ai/events/23301-china-s-soybean-meal-stockpiles-rise-us-soybean-imports-in-doubt.md) | +3.3% | +8.6% |
| SBM | 2019-08-21 | [Argentina farmer soybean, corn sales for export more than double as peso falls - Benison Media](https://feedsoft.ai/events/57425-argentina-farmer-soybean-corn-sales-for-export-more-than-double-as-peso-falls.md) | -0.9% | -0.8% |
| SBM | 2019-08-21 | [Feed alternatives reducing soybean demand in China - Benison Media](https://feedsoft.ai/events/57649-feed-alternatives-reducing-soybean-demand-in-china-benison-media.md) | -0.9% | -0.8% |

## Sources

- benisonmedia.com: https://benisonmedia.com/chinas-soybean-stockpile-surge-implications-for-u-s-export-season/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.