# China increases imports and processing of soybeans and cancels purchase agreements

> China's soybean processing rose 29% week on week to 2 million tonnes, while soybean stocks fell 16% to 4 million tons. Chinese buyers reportedly cancelled 8-10 tonnes of Brazilian soybeans for November delivery as processing margins favored Brazil. Meal sales in China were weak and processors expect further meal price declines.

- Date: 2023-10-27 · published 2023-10-27T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/33616-china-increases-imports-and-processing-of-soybeans-and-cancels-purchase
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Weak Chinese meal demand and cancelled Brazilian cargoes point to softer soybean meal prices and reduced export demand for Brazilian beans, pressuring protein feed costs.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2026-10-21 | [Argentina plans to increase soybean crush and exports in 2026/27](https://feedsoft.ai/events/13773-argentina-plans-to-increase-soybean-crush-and-exports-in-2026-27.md) | -3.1% | — |
| SBM | 2019-10-14 | [China September soybean imports ease on falling animal feed demand](https://feedsoft.ai/events/56562-china-september-soybean-imports-ease-on-falling-animal-feed-demand.md) | +0.5% | -0.7% |
| SBM | 2023-09-22 | [China cuts soybean purchases from the US in August](https://feedsoft.ai/events/14811-china-cuts-soybean-purchases-from-the-us-in-august.md) | +0.5% | +6.4% |
| SBM | 2025-06-09 | [Decline of China's Soybean Meal Market Amid Rising Imports](https://feedsoft.ai/events/24312-decline-of-china-s-soybean-meal-market-amid-rising-imports.md) | -1.2% | -9.3% |
| SBM | 2026-08-12 | [Argentina increases new-crop soybean crushing](https://feedsoft.ai/events/13781-argentina-increases-new-crop-soybean-crushing.md) | +2.5% | +12.7% |
| SOY | 2018-05-09 | [China cutting US soybean purchases in face of tariffs threat \| AP News](https://feedsoft.ai/events/64913-china-cutting-us-soybean-purchases-in-face-of-tariffs-threat-ap-news.md) | +0.7% | -1.7% |
| SOY | 2019-10-14 | [China September soybean imports ease on falling animal feed demand](https://feedsoft.ai/events/56562-china-september-soybean-imports-ease-on-falling-animal-feed-demand.md) | -0.2% | -1.8% |
| SOY | 2020-06-01 | [China asks state firms to halt purchases of U.S. soybeans, pork, sources say](https://feedsoft.ai/events/52463-china-asks-state-firms-to-halt-purchases-of-u-s-soybeans-pork-sources-say.md) | +3.2% | +2.9% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/china-increases-imports-and-processing-of-soybeans-and-cancels-purchase-agreements/

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