China: Oilseeds and Products Update
Link to report:
Post is lowering its forecast for MY 26/27 soybean production slightly to 20.1 million metric tons (MMT) on a smaller planted area. Chinese state-owned enterprises (SOEs) continue to purchase U.S. soybeans in accordance with the Busan agreement. As of August 13, USDA FAS Export Sales data indicates that, China had purchased 5.7 MMT of U.S. new crop soybeans for delivery in MY 26/27, with an additional 3.8 MMT being sold to “Unknown Destinations”, which can indicate purchases by Chinese SOEs. At the same time, China’s current 10 percent retaliatory tariff on U.S. soybeans has led commercial buyers to rely on South American origins, with Brazil sending record volumes from June to August 2026. China’s growing soybean crush for meal and cooling demand for soybean oil will push its soybean oil exports to reach a record 1 MMT in MY 25/26.
