Chinese state buyers secure over 840,000 tonnes of U.S. soybeans for fall shipments

Chinese government buyers arranged eight shipments of U.S. soybeans from Gulf Coast terminals and six from Pacific Northwest ports for delivery in October and November, according to two traders familiar with the transactions. The combined volume of at least 840,000 tonnes represents one of the biggest single-day purchases by China this month, coming after the country restarted buying U.S. soybeans in late June. Previously, China had curtailed U.S. purchases amid a trade dispute and the availability of cheaper Brazilian beans.

The latest orders align with recent trade negotiations in which China committed to purchasing 25 million tonnes of U.S. soy annually and to increase other farm-goods imports. Traders expect further sales as President Xi Jinping prepares for a September meeting at the White House with President Donald Trump. So far, government-directed purchases have topped 3 million tonnes, while private Chinese importers continue to source soybeans mainly from South America.