China's Sinograin buys more U.S. soybeans as purchases near 10 million tons

Traders told Reuters that Sinograin bought 10 U.S. soybean cargoes this week, about 600,000 metric tons for March–May shipment, bringing China’s reported U.S. purchases close to 10 million metric tons after a late‑October trade truce.

Sinograin, China’s state stockpiler, bought 10 U.S. soybean cargoes this week, traders told Reuters. The cargoes total about 600,000 metric tons and are scheduled for shipment between March and May. These purchases bring China’s reported U.S. soybean buys close to 10 million metric tons and follow a late‑October trade truce between Beijing and Washington. The buying has helped support Chicago soybean prices even as China manages ample domestic supplies. Key facts: - Three traders told Reuters that Sinograin bought 10 U.S. soybean cargoes this week, totaling around 600,000 metric tons for March–May shipment. - Traders said overall U.S. soybean purchases by China are now approaching 10 million metric tons. - The article reports U.S. Treasury Secretary Scott Bessent said China pledged to buy 12 million metric tons by the end of February, and current purchases represent over 80% of that pledge. - Chicago soybeans were reported up 0.1% at US$10.62 a bushel as of 1140 GMT on Tuesday. - In December, Sinograin held three public auctions to make room for U.S. shipments; average prices and clearance rates fell across rounds, and one‑third of soybeans were sold in the final auction. Summary: The reported purchases have supported soybean prices and reflect resumed agricultural trade flows between the United States and China after the late‑October truce. Traders said China may buy a few million more metric tons to meet the pledged volumes. Undetermined at this time.