China imported 7.92 million metric tons of soybeans in November, a 7.8% increase from the previous year but falling short of traders' expectations. Slower clearing of cargoes at customs, attributed to delays in issuing import licenses, contributed to the lower-than-anticipated figures. The extended processing time for licenses, now up to 10 days, impacted the unloading of soybean vessels. Despite the November setback, the overall soybean imports for the first 11 months of the year reached 89.63 million tons, a 13.3% year-on-year increase. Analysts suggest December imports may surge as delayed cargoes from November are unloaded. The soybean market dynamics include China's increased purchases from the U.S. amid improving bilateral relations and a severe drought affecting Brazil, the world's largest soybean grower.

SOURCE: GOOGLE