Core Viewpoint - The 13% import tariff on U.S. soybeans has significantly increased the landed price, making Brazilian soybeans a more attractive option for Chinese crushing companies, leading to a halt in purchases of U.S. soybeans [1][3]. Group 1: Tariff Impact - The 13% tariff has raised the price of U.S. soybeans by nearly $50 per ton, severely impacting the already thin margins of crushing plants [3][5]. - Chinese crushing companies are unwilling to purchase U.S. soybeans unless they are priced at least $45 to $50 per ton cheaper than Brazilian soybeans [5][10]. Group 2: Market Dynamics - Brazilian soybean exports to China have surged, with port inventories reaching a three-year high, while domestic soybean prices in China have increased due to reduced local production [5][10]. - The current market conditions, including high U.S. soybean futures prices, have discouraged purchases, as the cost of imports continues to rise [5][11]. Group 3: Political and Economic Considerations - The Chinese government has only "paused" additional tariffs, leaving room for future policy changes, which creates uncertainty for businesses considering long-term orders [8][10]. - Potential political changes in the U.S. add to the uncertainty, as companies are wary of committing to large orders without a stable trade environment [10][11]. Group 4: Seasonal Factors - The period from November to February is typically a supply lull for South American soybeans, presenting a potential short-term opportunity for U.S. soybeans, but actual orders depend on market demand rather than policy-driven purchases [7][11].