China Buys 840,000 Tonnes of US Soybeans in Largest Single-Day Purchase

On Friday, Chinese government buyers acquired a minimum of 840,000 tonnes of US soybeans, representing one of the largest single-day purchases by China this month. Two US traders confirmed that the transactions included eight cargoes from Gulf Coast terminals and six from ports in the Pacific Northwest, with shipments planned for October and November. This acquisition follows China's resumption of US soybean imports in late June after a year of diminished purchases due to a trade conflict and lower-priced Brazilian supplies. The recent deals align with commitments made during US-China trade discussions, where China pledged to buy 25 million tons of US soybeans annually. Meanwhile, commercial importers, who usually account for about two-thirds of US soybean exports to China, are still sourcing from South America. A photo accompanying the report features Doug Bartek shoveling soybeans on his Nebraska farm in April.