Soybean Shipments from the US, Brazil and Argentina Fell by 1.75 Million Tonnes in July

Combined soybean shipments to foreign markets from the United States, Brazil and Argentina declined in July due to seasonal factors. According to Oil World, exports from the three largest supplier countries amounted to 15.5 million tonnes, down 1.75 million tonnes from June and 0.1 million tonnes below the level recorded in July last year.

Soybean shipments to China also declined. In July, 9.97 million tonnes were shipped to the country, which was 0.8 million tonnes less than in the same month of the previous year.

At the same time, exports to other countries increased by 0.9 million tonnes year-on-year. Growth in shipments was recorded, in particular, to Mexico, Vietnam and Iran.

China's soybean imports are expected to continue declining in August and September. Shipments from South American countries to China have been decreasing since June, while the Chinese market's dependence on US soybeans has increased.

At the same time, actual US soybean exports to China remain at a low level. In July, US suppliers shipped only 260,000 tonnes of soybeans to the Chinese market. During the first week of August, shipments amounted to just 66,000 tonnes.

However, China has already increased purchases of US soybeans for delivery in September–December of this year to 6 million tonnes. This volume corresponds to the level recorded during the same period last year.

Overall, combined soybean exports from the United States, Brazil and Argentina in January–July 2026 are estimated at 109.1 million tonnes. This is 9.25 million tonnes more than the volume shipped during the first seven months of the previous year.

China's share of total soybean exports from the three countries declined to 65.6%. Despite the decrease in its share, physical shipment volumes to the Chinese market remain above last year's levels.

In January–July, China imported a total of 71.5 million tonnes of soybeans from the United States, Brazil and Argentina. Compared with the same period last year, shipments increased by 4.2 million tonnes.

Exports to other global markets have also increased since the beginning of 2026. Combined shipments to these destinations rose by 5 million tonnes.

In particular, soybean exports to Turkey increased by 0.8 million tonnes to 2.86 million tonnes. Vietnam increased its purchases by 0.6 million tonnes to 2.05 million tonnes.

Shipments to Pakistan increased by 0.5 million tonnes over the seven-month period and reached 2.04 million tonnes. A similar increase was recorded for Bangladesh, which imported 1.43 million tonnes of soybeans.

A less pronounced trend was observed in shipments to the European Union market. In January–July 2026, soybean exports to the EU amounted to 7.5 million tonnes, increasing by only 0.1 million tonnes compared with the same period last year.