en.Wedoany.com Reported - China's soybean imports in May fell 15.3% year-on-year, but actual arrivals still exceeded market expectations, reaching the third highest level for the month in history. The peak of South American supply and improved port logistics efficiency were the main factors driving arrivals.

Data released by the General Administration of Customs of China on June 9 showed that total soybean imports in May were 11.79 million tons, compared with 13.92 million tons in the same period last year. Wang Wenshen, an analyst at Sublime China Information, said May soybean imports exceeded market expectations of about 11 million tons. He noted that given relatively low imports in April, part of the increase in May may reflect April cargoes delayed to May due to slow customs clearance, rather than growth driven by underlying demand. Traders and analysts revealed that soybean clearance times have shortened from about 25 days previously to just 10 to 14 days.

From January to May this year, total arrivals for the world's largest soybean buyer were 36.94 million tons, down 0.4% year-on-year. Liu Jinlu, an agricultural researcher at Guoyuan Futures, expects monthly soybean arrivals from June to August to remain between 10 million and 11 million tons, suggesting ample supply in the second and third quarters.

Government data from Brazil, the world's largest soybean producer, showed that Brazil's soybean exports in May were 14.83 million tons, up from 14.1 million tons in the same period last year. China is expected to be the main destination for these exports. Traders are also watching for signs of China resuming purchases of U.S. soybeans, after Beijing agreed to expand agricultural trade during talks with Washington in mid-May. However, China has not made large-scale purchases since the meeting, putting pressure on Chicago soybean futures in recent weeks.

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