Reuters Ella Cao and Mei Mei Chu reported that the U.S. share of the Chinese soybean market fell to 21%. Total exports from the U.S. to China fell to 22.13 million tons. At the same time, soybean arrivals from Brazil increased to 74.65 million tons.

Reuters reported that Brazil remained the top soybean supplier to China as the country tries to ensure food security and reduce its reliance on the U.S. Brazil currently has a 71% market share of the Chinese soybean market.

Argentina also made market share gains in the China soybean market. Exports to China more than doubled from 1.95 million tons in 2023 to 4.1 million tons in 2024.

Reuters adds that U.S. shipments of soybeans to China have accelerated in the past few months as traders prepare for a potential halt of trade between the two countries. Currently, only 47% of U.S. soybean sales are to China. That is the lowest in 17 years, except for trade wars.

Read more about the soybean sales outlook with China here.