President Trump tweeted that China starts buying soybeans after the G20 summit negotiations. Why Trump pays close attention to soybeans? Let’s take a look on soybean world production market and historical data of U.S. soybean export to China.
“China officially echoed President Donald Trump’s optimism over bilateral trade talks. Chinese officials have begun preparing to restart imports of U.S. Soybeans & Liquified Natural Gas, the first sign confirming the claims of President Donald Trump and the White House that……
— Donald J. Trump (@realDonaldTrump)
2018年12月5日
World Soybean Production
| Country | Production | Exports | Imports |
|---|---|---|---|
| U.S. | 4,280 | 2,290 | |
| Brazil | 4,299 | 2,657 | |
| Argentina | 2,058 | 294 | |
| China | 518 | 3,785 | |
| Others | 1,872 | 705 | 2,078 |
| Total | 13,027 | 5,946 | 5,862 |
units: million bushels
source: USDA-FAS
Based on this table, U.S. accounts for 33% of the world’s soybean production and China is the world’s largest importer of soybeans. Yes, soybeans are very important for both countries. Now below chart shows the soybean weekly import trends. As you can see, soybean imports have been drastically dropped from April due to China’s retaliatory tariff on U.S. soybeans.
We plan to track this export data trends to see how much actually soybeans will be exported to China after the G20 summit….
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