International Soybean Market

08-Apr-2025 08:09 AM

International Soybean Market
In response to the 34% retaliatory tariffs imposed by China, President Trump has warned that if China does not withdraw these tariffs, the U.S. will impose an additional 50% duty on goods coming from China. He has given China a deadline of Tuesday, April 8, to roll back the tariffs.
According to the USDA's "Export Inspections Report," total soybean shipments during the week ending April 3 reached 804,270 metric tons (29.5 million bushels). This was only 1.1% lower than the previous week but 63.5% higher than the same week in 2024. It was also the third-largest total export for this week since 2002. China was the top destination, receiving 341,278 metric tons, all of which were shipped before the 34% retaliatory tariff took effect (though they were still subject to a 10% duty). Additionally, Egypt received 140,658 metric tons.
So far, total soybean shipments for the marketing year have reached 41.555 million metric tons (1.527 billion bushels), which is 10.6% higher than the same week last year.