On November 5th, the State Council Tariff Commission issued Announcements No. 9 and No. 10 of 2025, adjusting the additional tariffs imposed on imported goods originating from the United States.
Effective from 13:01 on November 10th, 2025, the tariff rate on imported US soybeans into China will be adjusted to 13% (base tariff 3% + additional tariff 10%), valid for one year. Previously, it was 23% (3% + 20%), and the additional tariff has now been reduced from 20% to 10%. Therefore, US soybeans declared for import on or after November 10th, 2025, will be subject to a 13% tariff. Brazilian and Argentinian soybeans will only be subject to a 3% tariff. This means that the cost of importing US soybeans remains higher than that of South American soybeans.
In recent weeks, due to China's high tariffs on US soybeans, Chinese buyers have turned to soybeans from countries like Brazil, causing Brazilian soybeans to command a higher premium than US soybeans. Currently, Brazilian soybean prices are lower than similar sources from the Gulf of Mexico. Market information shows that Brazilian soybeans for December shipment are currently trading at a premium of 225 to 230 cents per bushel over the Chicago January soybean futures contract, while soybeans for Gulf Coast shipment are quoted at a premium of 240 cents per bushel. On October 24th, the premium/discount for imported soybeans at Brazilian ports (December shipment) was still 265 cents per bushel.
Against this backdrop, despite a significant short-term increase in US soybean futures prices, Chinese importers have recently increased their purchases of South American soybeans. Reuters reports that Chinese buyers have ordered approximately 10 shipments of Brazilian soybeans for December shipment and another 10 shipments for shipment between March and July 2026. It has also been reported that China has recently purchased soybeans from the United States, but specific details are uncertain due to the ongoing federal government shutdown.
However, according to data from the Center for Advanced Studies in Applied Economics (Cepea), prices generally rose in Brazil's major soybean producing regions in October. According to monitoring results from consulting firm AgRural, the Cepea price index for 60kg bags of soybeans in the port of Paranaguá, Paranaía state, rose by 4.68% cumulatively in October. Mato Grosso state saw the largest increase, at 7.9%. As of October 31, the price of each 60kg bag of soybeans was 129.50 reais (approximately 170 yuan). Researchers pointed out that a stronger US dollar and demand from China were the main supporting factors for the rise in Brazilian soybean prices.
Industry insiders believe that if Sino-US agricultural trade gradually resumes, it may boost international soybean prices in the short term, putting competitive pressure on Brazilian exports; however, in the medium to long term, China's demand for diversified soybean supply sources will continue to provide a stable market space for major South American producing countries.
Disclaimer: Some article information is from the internet and the source has been indicated. Copyright belongs to the original author. The content is for readers' reference only. If it infringes on the rights of the original author, please leave a message to contact us for deletion!
Effective from 13:01 on November 10th, 2025, the tariff rate on imported US soybeans into China will be adjusted to 13% (base tariff 3% + additional tariff 10%), valid for one year. Previously, it was 23% (3% + 20%), and the additional tariff has now been reduced from 20% to 10%. Therefore, US soybeans declared for import on or after November 10th, 2025, will be subject to a 13% tariff. Brazilian and Argentinian soybeans will only be subject to a 3% tariff. This means that the cost of importing US soybeans remains higher than that of South American soybeans.
In recent weeks, due to China's high tariffs on US soybeans, Chinese buyers have turned to soybeans from countries like Brazil, causing Brazilian soybeans to command a higher premium than US soybeans. Currently, Brazilian soybean prices are lower than similar sources from the Gulf of Mexico. Market information shows that Brazilian soybeans for December shipment are currently trading at a premium of 225 to 230 cents per bushel over the Chicago January soybean futures contract, while soybeans for Gulf Coast shipment are quoted at a premium of 240 cents per bushel. On October 24th, the premium/discount for imported soybeans at Brazilian ports (December shipment) was still 265 cents per bushel.
Against this backdrop, despite a significant short-term increase in US soybean futures prices, Chinese importers have recently increased their purchases of South American soybeans. Reuters reports that Chinese buyers have ordered approximately 10 shipments of Brazilian soybeans for December shipment and another 10 shipments for shipment between March and July 2026. It has also been reported that China has recently purchased soybeans from the United States, but specific details are uncertain due to the ongoing federal government shutdown.
However, according to data from the Center for Advanced Studies in Applied Economics (Cepea), prices generally rose in Brazil's major soybean producing regions in October. According to monitoring results from consulting firm AgRural, the Cepea price index for 60kg bags of soybeans in the port of Paranaguá, Paranaía state, rose by 4.68% cumulatively in October. Mato Grosso state saw the largest increase, at 7.9%. As of October 31, the price of each 60kg bag of soybeans was 129.50 reais (approximately 170 yuan). Researchers pointed out that a stronger US dollar and demand from China were the main supporting factors for the rise in Brazilian soybean prices.
Industry insiders believe that if Sino-US agricultural trade gradually resumes, it may boost international soybean prices in the short term, putting competitive pressure on Brazilian exports; however, in the medium to long term, China's demand for diversified soybean supply sources will continue to provide a stable market space for major South American producing countries.
Disclaimer: Some article information is from the internet and the source has been indicated. Copyright belongs to the original author. The content is for readers' reference only. If it infringes on the rights of the original author, please leave a message to contact us for deletion!