China’s state grain stockpiler Sinograin has continued to ramp up purchases of U.S. soybeans, buying 10 cargoes this week — about 600,000 metric tons slated for shipment between March and May, traders told Reuters. This brings China’s total purchases from the current U.S. crop to an estimated 8.5 million to nearly 10 million tons, close to the 12 million ton pledge the country made earlier this season.
- The recent sales are part of a resumption of U.S. soybean imports by China following a late‑October trade truce with the United States.
- Analysts say China may buy a few million more tons to fully meet its stated import commitment under the current marketing year.
- The boost in purchases has supported Chicago soybean futures, with prices finding strength as global demand signals improve.
Most of the recently purchased U.S. soybean cargoes are scheduled for delivery during which overlaps with the peak shipping season for rival supplier Brazil.
Market observers expect that particularly if it pushes toward the full 12 million‑ton target — could provide firmer support for U.S. soybean exports into late winter and early spring. However, global supply conditions and competition from South American soybeans will remain key factors shaping price direction and trade volumes.
