# Easing of China’s soybean appetite puts Brazil crop growth into question

> USDA set China's 2023-24 soybean imports at 100 million tonnes, up from 98 million in 2022-23 but only slightly above the prior record of 99.7 million from 2020-21. The forecast points to a slowing rise in Chinese soy demand even as the global crop is seen much larger than in 2016-17.

- Date: 2023-06-02 · published 2023-06-02T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/14832-easing-of-china-s-soybean-appetite-puts-brazil-crop-growth-into-question
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Slower import growth from China reduces demand for Brazilian soybeans and weighs on soybean prices. It also raises doubts about how much Brazil's crop expansion can be absorbed.

## Read by commodity

- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-11-03 | [Brazil cuts into U.S. soybean market share in China - AgCanada](https://feedsoft.ai/events/68018-brazil-cuts-into-u-s-soybean-market-share-in-china-agcanada.md) | -1.4% | +0.5% |
| SOY | 2023-06-29 | [Soybean influx into China cools buying appetite - Manitoba Co-operator](https://feedsoft.ai/events/35463-soybean-influx-into-china-cools-buying-appetite-manitoba-co-operator.md) | +5.2% | +5.6% |
| SOY | 2018-01-25 | [Soy source: Brazil's share of soybean exports to China hits record](https://feedsoft.ai/events/67014-soy-source-brazil-s-share-of-soybean-exports-to-china-hits-record.md) | +0.4% | +4.0% |
| SOY | 2018-09-26 | [Graphic: Crop chop - China shuns U.S. soybeans amid trade war, turns to Brazil](https://feedsoft.ai/events/63061-graphic-crop-chop-china-shuns-u-s-soybeans-amid-trade-war-turns-to-brazil.md) | +2.4% | +1.4% |
| SOY | 2025-04-04 | [China retaliation on US farm goods hits soybeans, bolstering Brazil](https://feedsoft.ai/events/6029-china-retaliation-on-us-farm-goods-hits-soybeans-bolstering-brazil.md) | +1.7% | +3.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/easing-chinas-soybean-appetite-puts-brazil-crop-growth-into-question-2023-06-02/

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