Soybean inventories at Chinese ports down to a 2-year low!

With soybean inventories falling to a 2-year low of 6.5Mt, crushing margins are still positive and have found support at +44$/t.

Chart showing China soybean port stocks in million tonnes (Mt) as of 9 April 2025, highlighting a 14.6% year-on-year decline and 15.4% month-on-month drop. Soybean inventories are at a 2-year low of 6.5 Mt, within a 5-year range of 5.9 to 8.0 Mt. The graph compares 2025 soybean supply trends with 2024 and 2023 levels, illustrating market volatility and its impact on agricultural commodities and China soybean imports outlook. The chart is presented in the brand colours of IFCHOR GALBRAITHS (IG).

Soymeal stocks, which have been rising for about a month, still appear to hold significant upside potential compared to 2024 levels. With trade tensions escalating, and lessons drawn from the 2018 trade war, grain traders should be fully prepared to navigate around tariffs and sanctions and soybean imports outlook in China looks promising in 2025!

For further insights, contact: [email protected].