# Soybean influx into China cools buying appetite - Manitoba Co-operator

> Record Brazilian soybean arrivals into China are weighing on soymeal purchases, with over 11 million tonnes due at ports in June and further large volumes expected in July and August. Traders say Chinese demand has not risen as expected, and hog-farmer losses are pressuring soymeal use.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/35463-soybean-influx-into-china-cools-buying-appetite-manitoba-co-operator
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Heavy Chinese soybean supply and weak meal demand point to softer soybean and soymeal prices and possible cancellations of forward meal contracts, which would weigh on export demand for Brazilian and US beans.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-05-03 | [Chinese soybean crushers slow bean buying on poor margins - Manitoba Co-operator](https://feedsoft.ai/events/14933-chinese-soybean-crushers-slow-bean-buying-on-poor-margins-manitoba-co-operator.md) | -3.2% | +0.6% |
| SOY | 2020-01-31 | [Beijing is in control of global soybean market - Manitoba Co-operator](https://feedsoft.ai/events/55112-beijing-is-in-control-of-global-soybean-market-manitoba-co-operator.md) | +0.5% | +0.8% |
| SOY | 2019-12-09 | [Chinese importers scoop up Brazilian soybeans - Manitoba Co-operator](https://feedsoft.ai/events/55633-chinese-importers-scoop-up-brazilian-soybeans-manitoba-co-operator.md) | +2.0% | +5.1% |
| SOY | 2023-06-02 | [Easing of China’s soybean appetite puts Brazil crop growth into question](https://feedsoft.ai/events/14832-easing-of-china-s-soybean-appetite-puts-brazil-crop-growth-into-question.md) | +2.5% | +17.1% |
| SOY | 2026-01-01 | [Soybean futures drop 85 cents as China buying disappoints market](https://feedsoft.ai/events/21530-soybean-futures-drop-85-cents-as-china-buying-disappoints-market.md) | +1.6% | +3.3% |
| SBM | 2022-05-03 | [Chinese soybean crushers slow bean buying on poor margins - Manitoba Co-operator](https://feedsoft.ai/events/14933-chinese-soybean-crushers-slow-bean-buying-on-poor-margins-manitoba-co-operator.md) | -6.7% | -1.8% |
| SBM | 2020-01-31 | [Beijing is in control of global soybean market - Manitoba Co-operator](https://feedsoft.ai/events/55112-beijing-is-in-control-of-global-soybean-market-manitoba-co-operator.md) | -1.1% | +2.4% |
| SBM | 2019-12-09 | [Chinese importers scoop up Brazilian soybeans - Manitoba Co-operator](https://feedsoft.ai/events/55633-chinese-importers-scoop-up-brazilian-soybeans-manitoba-co-operator.md) | -0.6% | -0.3% |

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/markets/soybean-influx-into-china-cools-buying-appetite/

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