China state buyers snap up more US soybeans in latest post-summit purchases

Chinese state buyers bought ‌10-13 ​Panamax cargoes of US soybeans overnight, the second large-scale batch of purchases since US ‌President Donald Trump met Chinese President Xi Jinping in September, three trade sources told Reuters on Thursday. The cargoes, bought by state-owned trading ‌firms, are scheduled for shipment between December and March, they ‌added.

Reuters on Wednesday reported that Chinese state buyers had booked 8-10 cargoes of US soybeans on Tuesday. The US Department of Agriculture later confirmed most ⁠of ​those sales ⁠in its daily export sales announcement. The purchases helped ease concerns after China had ⁠largely stayed out of the market for weeks, partly because of ​the prolonged National Day holiday, with the return of state buyers seen ⁠as a sign of continued demand.

Combined, this week's purchases amount to ⁠18-23 ​cargoes, or roughly 1.2-1.5 million metric tons of US soybeans, according to Reuters calculations. That brings China a step closer ⁠to meeting the 25 million-ton purchase target announced by the White ⁠House for the ⁠2026/27 marketing year with purchases so far now totalling around 15 million tons.