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China makes biggest U.S. soybean purchase since November
USDA reported sales of 472,000 metric tons
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Key Takeaways:
- The USDA reported July 8 that China bought 472,000 metric tons of U.S. soybeans, the largest daily sale to the country since November.
- The purchases, including multiple cargoes by Cofco, signal renewed trade momentum after U.S.-China talks and support expectations for increased Chinese agricultural imports.
- Additional buying could bolster U.S. farmers ahead of the September marketing season, though tariffs and cheaper Brazilian supplies continue to weigh on demand.
China purchased the largest amount of U.S. soybeans since November, extending a wave of buying as agricultural trade between the world’s two largest economies gathers pace.
The U.S. Department of Agriculture on July 8 reported sales of 472,000 metric tons of soybeans for delivery to China, the biggest daily export amount reported to that country since November 2025.
The confirmed purchases come after state-owned trading firm Cofco Corp. booked at least another five cargoes overnight for loading mainly between September and October, according to people familiar with the matter, who declined to be named as they weren’t authorized to speak to the media.
The purchases follow at least six cargoes booked earlier in the week.
Cofco couldn’t immediately be reached for comment.
A soybean cargo is typically around 60,000 tons.
Image
(Charlie Riedel/AP)
More on Soybeans
As of the end of last month, USDA reported that Chinese buyers had committed to 200,000 tons of new crop American beans. The latest reported sales, meanwhile, were split, with 136,000 tons earmarked for delivery in the current marketing year, and the balance for the next.
The pickup in trade follows the summit held between presidents Donald Trump and Xi Jinping in May, and will help bolster expectations that Beijing will increase imports of U.S. farm goods as both sides work on their commitments made under their broader trade trace.
The White House has said China agreed to purchase at least $17 billion of U.S. agricultural products, in addition to at least 25 million tons of soybeans annually through 2028, although Beijing hasn’t publicly confirmed those figures. Chinese officials have said the two sides are working to ease tariffs on certain agricultural products and preserve the truce reached last year.
“China so far, is starting to buy what they said they would buy," Total Farm Marketing analyst Naomi Blohm said in a note. “This is not above and beyond new demand.”
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Additional buying from China would provide support for U.S. exporters and farmers ahead of the new marketing season, which runs from September. Soybean futures in Chicago have strengthened in recent days on expectations of stronger Chinese demand, while traders continue to watch for any additional policy signals from Washington and Beijing before an expected meeting between Trump and Xi later this year.
U.S. soybeans currently incur an additional 10% tariff compared to rivals, which has kept private crushers on the sidelines. Even without the extra duty, soybeans from Brazil’s recently concluded harvest are cheaper than American shipments, according to Commodity3 data.
