China Makes Largest US Soy Purchases in Months
China booked its largest single-day U.S. soybean purchases in at least three months on Tuesday, traders said, offering a glimmer of hope for the most valuable U.S. farm export after overseas sales of the 2023 harvest had fallen well behind the normal pace.
Chinese importers bought around 10 cargoes of soybeans, or about 600,000 metric tons, for shipment from Gulf Coast and Pacific Northwest export terminals between December and March, trade sources said.
The sales would be a relief to U.S. farmers, who have seen Brazil dominate the global export market for soy as well as corn for longer than normal this year.
November 8, 2023