# China's imports to determine prices | The Western Producer

> USDA projects record Chinese soybean imports of 109 million tonnes in 2024-25, with corn at 23 million tonnes and wheat at 11 million. A Chinese Academy of Agricultural Sciences long-range forecast predicts grain output will rise to 766 million tonnes by 2033-34, which would shrink import needs.

- Date: 2024-05-23 · published 2024-05-23T12:00:00.000Z
- Category: report · region China · magnitude low
- Page: https://feedsoft.ai/events/14749-china-s-imports-to-determine-prices-the-western-producer
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

China is the largest buyer of all three crops, so a long-run contraction in its imports would weigh on global oilseed and grain prices. The divergence between USDA and CAAS views makes the outlook uncertain.

## Read by commodity

- SOY: bearish ▼
- CORN: neutral
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-05-30 | [China trade report tells troubled tale \| The Western Producer](https://feedsoft.ai/events/59067-china-trade-report-tells-troubled-tale-the-western-producer.md) | -0.3% | +2.6% |
| SOY | 2023-11-09 | [USDA surprises trade with latest report \| The Western Producer](https://feedsoft.ai/events/33115-usda-surprises-trade-with-latest-report-the-western-producer.md) | +2.7% | -2.8% |
| SOY | 2024-11-13 | [China’s soybean production, imports steady \| World Grain](https://feedsoft.ai/events/27390-china-s-soybean-production-imports-steady-world-grain.md) | -0.5% | -0.8% |
| SOY | 2025-02-28 | [Prices face pressure as larger U.S. crops expected this year \| The Western Producer](https://feedsoft.ai/events/26080-prices-face-pressure-as-larger-u-s-crops-expected-this-year-the-western-producer.md) | -0.9% | -0.6% |
| SOY | 2026-01-12 | [January WASDE report very bearish \| The Western Producer](https://feedsoft.ai/events/20995-january-wasde-report-very-bearish-the-western-producer.md) | +0.9% | +5.9% |
| CORN | 2024-11-07 | [Chinese pork output continues slide \| The Western Producer](https://feedsoft.ai/events/27392-chinese-pork-output-continues-slide-the-western-producer.md) | -0.1% | -2.4% |
| CORN | 2018-02-01 | [China’s rice, soybean imports top the world in 2017 - People's Daily Online](https://feedsoft.ai/events/66383-china-s-rice-soybean-imports-top-the-world-in-2017-people-s-daily-online.md) | +0.6% | +2.1% |
| CORN | 2017-01-12 | [How does China pork production stack up to U.S.?](https://feedsoft.ai/events/72993-how-does-china-pork-production-stack-up-to-u-s.md) | +0.1% | +1.9% |

## Sources

- producer.com: https://www.producer.com/news/chinas-imports-to-determine-prices/

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