{
  "id": 10851823,
  "title": "China’s weak soybean demand dims prospects for US cargoes after tariff snub",
  "url": "https://urgent.news/2026/09/30/chinas-weak-soybean-demand-dims-prospects-for-us-cargoes-after-tariff",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-30T03:30:55.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/commodities-news/chinas-weak-soybean-demand-dims-prospects-for-us-cargoes-after-tariff-snub-4924053"
  },
  "original_language": "en",
  "account": "China's diminished demand for soybeans is expected to impact US cargoes following a tariff dispute at a recent Washington summit. The country's biggest soybean importer is cutting back purchases due to weak demand for animal feed and negative profit margins. China has set aside tariffs on various US farm products, but soybeans remain excluded from the tariff reduction list in the wake of talks between President Xi Jinping and President Donald Trump. Private oilseed processors in China have already secured sufficient supplies of soybeans through Brazil, Argentina, and state reserves prior to the Lunar New Year, which typically sees high demand. Senior executives at Chinese oilseed processing firms are not interested in further purchases as these would result in losses. State-run companies have bought approximately 13.7 million metric tons of US soybeans, following a trade deal in May, but private crushers have only taken South American shipments. US soybeans face an additional 10% tariff due to the ongoing trade war, making them uneconomical for commercial buyers. Brazilian soybeans, usually priced at par with US cargoes excluding tariffs, are currently around $590 per ton, including cost and freight. Benchmark Chicago soybean futures have dropped 1.5% this week, with a further decline anticipated as the US harvest reaches its peak and China slows its purchases. Crushing margins for US soybeans scheduled for November shipment are ranging from 120 yuan ($17.90) to 200 yuan ($29.83) per ton, while Brazilian soybeans have a margin of about -120 yuan ($-17.90) per ton. High soybean inventories and a shrinking sow herd due to government efforts to curb overcapacity in the hog industry have weakened import demand. Soybean inventories at 111 Chinese crushing plants reached a record high of 7.96 million tons in the week of September 25. In Sinograin's latest auction of imported soybeans, only 37.3% of the offered 514,000 tons were sold, indicating a weak buying appetite in the market. Chinese buyers booked only 50 soybean cargoes in the first three weeks of September, the fewest in four years, with state-run COFCO and Sinograin accounting for about 30 US cargoes. Private buyers took the rest from Brazil and Argentina. Unless profit margins improve, commercial buyers are unlikely to book more overseas cargoes.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}