USDA reports 558,000 tons of soybean sales to China
Weekly export data also show 236,000 tons sold to undisclosed buyers as Chinese purchases resume after a quiet stretch
Published
US exporters sold 558,000 tons of soybeans to China and a further 236,000 tons to undisclosed buyers, according to the US Department of Agriculture's weekly export sales report.
The sale lands as soybean futures sit near a seven-week low. The most-traded Chicago Board of Trade contract fell to $12.71-3/4 a bushel on Thursday, and was quoted another 5 to 7 cents lower in overnight trading Friday, according to Pro Farmer. Business Recorder reported that active harvesting across the US Midwest has pressured supplies this week, with losses cushioned by the return of Chinese buying.
State-owned Chinese buyers booked eight to 10 US soybean cargoes in the week beginning October 14, their first purchases since the September meeting between Presidents Trump and Xi, according to TokenPost. China's soybean imports had fallen 7.7% year-on-year in September, Business Recorder reported.
The purchase follows Agriculture Secretary Rollins' comment that China remains on track for its pledged 25 million metric tons of soybean purchases, giving that commitment a trackable volume rather than a stated target. The 236,000 tons sold to undisclosed buyers adds demand beyond the China tonnage, pointing to export pace that is broadening rather than resting on Chinese purchases alone. Set against otherwise contentious US-China trade friction over tariffs and technology, this sale stands apart as a concrete agricultural flow rather than a diplomatic signal, and sustained bookings at this scale would support stronger near-term demand for US soybean exports.