# China likely to buy more US Gulf soybeans in Q1 amid South American supply woes | S&P Global

> China is likely to buy more-than-usual U.S. Gulf soybeans in February and March. Harvest delays in Brazil and drought in Argentina are limiting South American supply, and Sinograin has bought several U.S. cargoes for national reserves. Platts assessed April FOB New Orleans soybeans at $600.67/mt.

- Date: 2023-02-22 · published 2023-02-22T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/14863-china-likely-to-buy-more-us-gulf-soybeans-in-q1-amid-south-american-supply-woes
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Stronger Chinese demand for U.S. Gulf cargoes tightens nearby supply and supports soybean basis and prices. South American supply constraints reinforce that support.

## Read by commodity

- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-03-21 | [South American soybean meal basis hits three-month high \| S&P Global](https://feedsoft.ai/events/25655-south-american-soybean-meal-basis-hits-three-month-high-s-and-p-global.md) | +0.4% | +2.3% |
| SOY | 2026-08-06 | [China buys at least 10 more cargoes of US soybeans, traders say \| South China Morning Post](https://feedsoft.ai/events/14558-china-buys-at-least-10-more-cargoes-of-us-soybeans-traders-say-south-china.md) | +1.2% | +13.0% |
| SOY | 2019-02-25 | [China commits to buying additional US soybeans and possibly more](https://feedsoft.ai/events/60476-china-commits-to-buying-additional-us-soybeans-and-possibly-more.md) | -1.2% | -0.7% |
| SOY | 2022-04-25 | [China trade: imports of US soybeans rise as Ukraine war, South America drought limit sources \| South China Morning Post](https://feedsoft.ai/events/14940-china-trade-imports-of-us-soybeans-rise-as-ukraine-war-south-america-drought.md) | -0.5% | -0.6% |
| SOY | 2023-07-17 | [China to buy more Brazilian soybeans for Q4 as U.S. crop suffers - traders \| Reuters](https://feedsoft.ai/events/14826-china-to-buy-more-brazilian-soybeans-for-q4-as-u-s-crop-suffers-traders-reuters.md) | +0.4% | -6.3% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/022223-china-likely-to-buy-more-us-gulf-soybeans-in-q1-amid-south-american-supply-woes

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