Two traders with knowledge of the deal told Reuters that China bought at least 14 cargoes of U.S. soybeans on Monday.
It’s the largest Chinese purchase since early in 2025 and the most significant since a summit between President Donald Trump and President Xi (ZHEE) Jinping during an October summit in Busan (boo-SAHN), South Korea.
“China is buying the soybeans to meet the pledges it made to Washington D.C., even though the cargoes are more expensive than the prices Brazil charges for similar shipments,” Reuters said. “The bigger round of soybean buys from the U.S. is no longer a goodwill gesture but a manifestation of China’s commitment to the Busan terms.”
China’s state-owned grain trader COFCO (KOFF-coh) bought at least 840,000 metric tons for shipment in December and January.
During the government shutdown, USDA data showed China bought 232,000 metric tons of soybeans, bringing the total to almost one million metric tons.
