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China buys at least eight US soybean cargoes for late-2026 shipments
The purchases total at least 840,000 tonnes, covering Gulf Coast loadings for October and November and Pacific Northwest loadings for the same period.
Chinese government buyers snapped up at least eight cargoes of US soybeans for shipment from US Gulf Coast terminals and six cargoes from Pacific Northwest ports, with the deals set for October and November, according to two US traders with knowledge of the transactions, as covered by SCMP Economy.
The reported sales volume is at least 840,000 tonnes, putting the purchases among China’s largest single day buys this month following a restart in imports of US soybeans in late June.
SCMP Economy reports that China had slowed purchases of American soybeans for much of the past year amid the US China trade war, when cheaper supplies from rival exporter Brazil gained share.
The latest deals come after recent trade talks between the United States and China, which the White House said included Chinese commitments to buy 25 million tons of US soybeans annually and increase imports of other American farm goods, and traders expect additional sales as Xi Jinping prepares to visit the White House in late September. The report also notes that recent Chinese purchases totaling more than 3 million tonnes have been made by government buyers, while commercial importers, which typically represent about two thirds of total US soybean exports to China, continue buying from South America.
Latest closeSoybeans $1,188.25 ▲0.9%