# Devaluation of RMB leads to higher costs and slower soybean imports

> Chinese buyers have slowed soybean purchases as a weaker renminbi makes imports more expensive, with November arrivals ordered so far at about 2 million tonnes versus nearly 4 million tonnes a year earlier. Importers have also held back on December bookings, while soybean meal prices in renminbi have not risen enough to offset the higher import costs.

- Date: 2026-11-09 · published 2026-11-09T00:05:30.311Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/88173-devaluation-of-rmb-leads-to-higher-costs-and-slower-soybean-imports
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker currency raises the local cost of dollar-priced soybeans and squeezes crusher economics, reducing Chinese import demand. That leaves more export supply competing for buyers and pressures soybean prices, particularly for US exporters facing a large crop.

## Read by commodity

- SOY: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-11-07 | [China’s October soybean imports slide to lowest in eight years](https://feedsoft.ai/events/38680-china-s-october-soybean-imports-slide-to-lowest-in-eight-years.md) | +0.3% | -0.9% |
| SOY | 2018-11-01 | [China slashed its imports of U.S. sorghum, soybean, and corn in September](https://feedsoft.ai/events/61930-china-slashed-its-imports-of-u-s-sorghum-soybean-and-corn-in-september.md) | +3.4% | +5.8% |
| SOY | 2021-07-26 | [Protein pinch: China's soybean imports to slow over rest of 2021 on curbed meal use](https://feedsoft.ai/events/45921-protein-pinch-china-s-soybean-imports-to-slow-over-rest-of-2021-on-curbed-meal.md) | +1.0% | -7.7% |
| 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 | 2024-01-17 | [China's Q1 Soybean Imports Slow to Four-Year Low as Pig Herds Shrink - Pork Business](https://feedsoft.ai/events/32120-china-s-q1-soybean-imports-slow-to-four-year-low-as-pig-herds-shrink-pork.md) | +1.0% | -3.3% |
| USDCNY | 2022-11-07 | [Chinese Yuan Weakens Amid Contracting Exports, Imports on Struggling Demand](https://feedsoft.ai/events/6251-chinese-yuan-weakens-amid-contracting-exports-imports-on-struggling-demand.md) | -3.1% | -4.2% |
| USDCNY | 2017-02-01 | [China’s soybean speculation](https://feedsoft.ai/events/72358-china-s-soybean-speculation.md) | +0.1% | +0.0% |
| USDCNY | 2019-05-14 | [US-China trade stand-off and implications for FX markets \| Lombard Odier](https://feedsoft.ai/events/8442-us-china-trade-stand-off-and-implications-for-fx-markets-lombard-odier.md) | +0.5% | +0.5% |

## Sources

- mysheen.com: https://www.mysheen.com/a4264

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