China Buys 840,000 Tons of US Soybeans as Trade Talks Spur Fresh Commitments
Updated
Updated · UkrAgroConsult · Aug 3
China Buys 840,000 Tons of US Soybeans as Trade Talks Spur Fresh Commitments
3 articles · Updated · UkrAgroConsult · Aug 3
Summary
Chinese state buyers booked at least 840,000 tons of US soybeans on Friday for October-November shipment, one of the biggest single-day purchases of the year.
The buying followed recent Washington-Beijing trade talks and a White House statement that China committed to import about 25 million tons of US soybeans annually.
Fourteen cargoes were split between eight loadings from Gulf Coast terminals and six from Pacific Northwest ports, extending China’s return to the US market that began in late June.
More than 3 million tons of recent purchases have come mainly from state-owned firms, while private Chinese importers still favor cheaper Brazilian supplies.
Sinograin has started clearing space for incoming US cargoes by auctioning reserves—selling about half of 504,000 tons offered Friday—and traders expect further buying before Xi Jinping’s planned late-September Washington visit.