China Buys Argentine Soybeans as U.S. Farmers Lose Sales

Chinese buyers have purchased at least 10 cargoes of soybeans from Argentina after the South American country temporarily scrapped its grain export taxes, traders said this week. The move has boosted Argentina’s competitiveness in the global soybean market and diverted key sales away from U.S. farmers.

Each shipment booked by China is Panamax-sized, carrying around 65,000 metric tons. Deliveries are scheduled for November, with prices slightly higher than the Chicago Board of Trade (CBOT) November soybean contracts. Some market sources suggest that China may have secured as many as 15 cargoes from Argentina.

The decision to suspend export taxes has made Argentine soybeans cheaper and more attractive for Chinese buyers at a time when the U.S. typically dominates fourth-quarter exports. This year, however, South American suppliers are taking the lead.

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The shift comes as unresolved trade tensions between the U.S. and China continue to weigh on American soybean exports. Analysts warn that U.S. farmers could lose potential sales worth billions of dollars, while Brazil and Argentina fill the gap.

For Argentina, the tax removal provides a temporary boost to its farm sector and creates new opportunities to expand exports to one of the world’s largest soybean markets. For U.S. growers, the development adds pressure on prices and limits access to a critical customer.

Experts note that the latest shift highlights the importance of trade policy in shaping global agriculture flows. Even short-term measures such as Argentina’s tax suspension can change market dynamics, impact farmer incomes, and alter the balance of global supply.

Update: Traders say China is expected to continue diversifying soybean purchases from South America in the coming months, reducing reliance on U.S. supplies amid ongoing trade disputes.