# China's imports unexpectedly grow

> China's crude oil imports rose 13.5% year on year in October, a marginal gain from September. Soybean imports jumped 25% over the same period as cheap shipments from Brazil continued.

- Date: 2023-11-07 · published 2023-11-07T12:00:00.000Z
- Category: trade · region China · magnitude low
- Page: https://feedsoft.ai/events/14799-china-s-imports-unexpectedly-grow
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Heavier Chinese soybean imports from Brazil reflect cheap South American supply that competes with US exports and pressures US soybean prices. The crude import gain is a modest signal for energy demand.

## Read by commodity

- SOY: bearish ▼
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-08-10 | [China expects its U.S. agricultural imports to fall sharply - Grainews](https://feedsoft.ai/events/63520-china-expects-its-u-s-agricultural-imports-to-fall-sharply-grainews.md) | -0.3% | -6.3% |
| SOY | 2025-01-28 | [Panamax Pain as China's Grain Imports Plunge 51%](https://feedsoft.ai/events/26705-panamax-pain-as-china-s-grain-imports-plunge-51.md) | +1.3% | -1.3% |
| SOY | 2020-12-01 | [China Targets U.S. Farm Imports With Tariffs \| Feed & Grain](https://feedsoft.ai/events/49501-china-targets-u-s-farm-imports-with-tariffs-feed-and-grain.md) | -0.9% | +10.9% |
| SOY | 2020-11-30 | [China September Soybean Imports Ease \| Feed & Grain](https://feedsoft.ai/events/50150-china-september-soybean-imports-ease-feed-and-grain.md) | -2.4% | +5.3% |
| SOY | 2022-02-25 | [China Diversifies Grain Imports, U.S. Gets Smaller Piece \| Feed & Grain](https://feedsoft.ai/events/14959-china-diversifies-grain-imports-u-s-gets-smaller-piece-feed-and-grain.md) | +1.1% | +2.4% |
| WTI | 2018-12-03 | [Oil up 4 pct on trade truce, expected supply cuts](https://feedsoft.ai/events/10627-oil-up-4-pct-on-trade-truce-expected-supply-cuts.md) | +3.7% | -11.0% |
| WTI | 2018-06-05 | [China reportedly offered to buy nearly $70 billion of US agriculture, energy products](https://feedsoft.ai/events/64397-china-reportedly-offered-to-buy-nearly-70-billion-of-us-agriculture-energy.md) | +2.1% | +14.1% |
| WTI | 2019-12-16 | [Factbox: What is actually in the U.S.-China 'Phase One' trade deal?](https://feedsoft.ai/events/55443-factbox-what-is-actually-in-the-u-s-china-phase-one-trade-deal.md) | +0.6% | -3.3% |

## Sources

- reuters.com: https://www.reuters.com/world/china/chinas-imports-unexpectedly-grow-oct-exports-extend-declines-2023-11-07/

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