In recent years, the value of soybeans imported by China has increased to more than $61 billion per year. Corn and meat imports by China have leveled out in recent years with meat imports holding above $30 billion since 2020 and corn imports by China running between $7 billion and $8 billion per year.  In 2022, Brazil and the U.S. accounted for more than 90% of China’s soybean imports; about 74% of China’s corn imports, and 46% of China’s meat imports (Figure 1).

Figure 1. Brazil & US Share of Chinese...