When China buys from someone else (Brazil - nobody else has significant soy bean surplus) that means whoever was buying from that someone else now needs to go to the US.

The US also uses a lot of soy beans internally. Prices are down, but farmers are still selling soybeans and with careful management are making money.

I expect other nations are still consuming US soybeans. China stopped because it was particularly negatively targeted by US tariff policy.

But make no mistake, it has caused problems for farmers.

The report from my small hometown farmers is that everything, except for beef, is down right now while the prices of inputs like fertilizer are high. Some of the farmers in my hometown have already sold their land to megacorp farmers in response because they simply can't survive.

China has a tendency to shift to self-reliance or importing from more pliable neighborswhenever they execute policies like that. So even if they’re buying again, I highly doubt it is at the same rate it once was