Chinese state-owned trading firms purchased 10 to 13 Panamax cargoes of US soybeans on Wednesday, marking the second substantial round of purchases since US President Donald Trump and Chinese President Xi Jinping met in September, Reuters reported on Thursday.
The cargoes are scheduled for shipment between December and March, the report said.
On Tuesday, Chinese state buyers had booked 8 to 10 cargoes of US soybeans. The US Department of Agriculture later confirmed most of those sales in its daily export sales announcement.
The purchases follow a period of several weeks during which China had largely remained absent from the market, partly due to the extended National Day holiday. The return of state buyers indicates continued demand.
This week’s combined purchases total 18 to 23 cargoes, equivalent to approximately 1.2 to 1.5 million metric tons of US soybeans. China has now purchased around 15 million tons of the 25-million-ton target announced by the White House for the 2026/27 marketing year.
Source: Investing.com
