China buys 1 million tons of US soybeans ahead of Xi visit, sources say
- Chinese state stockpiler Sinograin booked the cargoes for shipment from US Gulf terminals between December and February, traders said
BEIJING/SINGAPORE: China bought 14 to 15 cargoes of US soybeans this week, or around 1 million metric tons, four traders told Reuters, as the world’s top oilseed buyer steps up purchases ahead of Chinese President Xi Jinping’s visit to Washington later this month.
The purchases take China’s total US soybean buying to nearly half of the 25 million tons the White House said Beijing had committed to annually through 2028.
Chinese state stockpiler Sinograin booked the cargoes for shipment from US Gulf terminals between December and February, traders said.
Sinograin did not immediately respond to Reuters’ requests for comment.
Soybeans hold firm on US weather, Chinese demand
The US Department of Agriculture on Wednesday reported 340,000 tons of US soybean sales to China and another 100,000 tons to unknown destinations.
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