# US officials upbeat on China's soy imports, even as data show volumes hitting 8-year low - Grain Price News

> China's soybean imports in October 2022 fell 19.0% year on year to 4.4 million tonnes, the weakest monthly total since October 2014. USDA's Beijing bureau forecasts 2022-23 imports of 96.5 million tonnes, with growth driven by soymeal and soyoil demand.

- Date: 2022-11-07 · published 2022-11-07T12:00:00.000Z
- Category: report · region China · magnitude medium
- Page: https://feedsoft.ai/events/14888-us-officials-upbeat-on-china-s-soy-imports-even-as-data-show-volumes-hitting-8
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A weak import pace reflects poor crush margins, but USDA expects a recovery that supports soybean, soymeal and soyoil demand. Forecast improvement supports prices if the recovery materializes.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-07-08 | [China's palm oil imports to avoid 17-year low, with soy imports to exceed forecasts too - Grain Price News](https://feedsoft.ai/events/14914-china-s-palm-oil-imports-to-avoid-17-year-low-with-soy-imports-to-exceed.md) | +1.2% | +1.5% |
| SOY | 2021-11-08 | [China’s soy imports increase as swine rebounds \| World Grain](https://feedsoft.ai/events/14977-china-s-soy-imports-increase-as-swine-rebounds-world-grain.md) | +3.5% | +5.8% |
| SOY | 2022-03-21 | [China to import record soybean volume in 2022-23 \| World Grain](https://feedsoft.ai/events/42291-china-to-import-record-soybean-volume-in-2022-23-world-grain.md) | +2.5% | +2.8% |
| SOY | 2026-09-15 | [Grains-soybeans, soymeal rise on US crush data; wheat turns higher - DBA News \| Rallies](https://feedsoft.ai/events/17556-grains-soybeans-soymeal-rise-on-us-crush-data-wheat-turns-higher-dba-news.md) | +3.3% | +0.2% |
| SOY | 2021-01-12 | [Grain prices soar on bullish USDA reports](https://feedsoft.ai/events/49089-grain-prices-soar-on-bullish-usda-reports.md) | +0.8% | +2.0% |
| SBM | 2021-11-08 | [China’s soy imports increase as swine rebounds \| World Grain](https://feedsoft.ai/events/14977-china-s-soy-imports-increase-as-swine-rebounds-world-grain.md) | +6.3% | +5.3% |
| SBM | 2022-03-21 | [China to import record soybean volume in 2022-23 \| World Grain](https://feedsoft.ai/events/42291-china-to-import-record-soybean-volume-in-2022-23-world-grain.md) | +1.4% | -3.3% |
| SBM | 2026-09-15 | [Grains-soybeans, soymeal rise on US crush data; wheat turns higher - DBA News \| Rallies](https://feedsoft.ai/events/17556-grains-soybeans-soymeal-rise-on-us-crush-data-wheat-turns-higher-dba-news.md) | +4.4% | +7.9% |

## Sources

- grainpricenews.com: https://grainpricenews.com/2022/11/07/us-officials-upbeat-on-chinas-soy-imports-even-as-data-show-volumes-hitting-8-year-low/

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