- China has ordered up to 650,000 tons of US soybeans.
- Shipments are expected to begin no earlier than December.
- China’s soybean imports fell by 7.7% in September.
- China continues to draw on its state soybean reserves.
China Returns to the U.S. Soybean Market
After a few weeks’ hiatus, China has resumed purchasing soybeans from the United States. State-owned companies have ordered 8–10 shipments, totaling approximately 520,000–650,000 metric tons of soybeans. Shipments are scheduled to begin in December 2026.
These new purchases come after a period of reduced interest in U.S. soybeans. The contracts were concluded with a premium of $3.10–3.20 per bushel above the price of January futures contracts on the Chicago Board of Trade. This is a significant development for U.S. exporters, though it remains to be seen whether these initial orders will be followed by more.
Soybean imports are falling, and China continues to draw on its stockpiles
Prior to these latest transactions, China had already purchased approximately 13.7 million metric tons of soybeans from the U.S. At the same time, its total soybean imports in September amounted to 11.88 million metric tons, down 7.7% from a year earlier. This shows that, despite the new orders, purchases of the commodity remain uneven.
China also continues to sell soybeans from its state reserves. At the October 13 auction, 40.5% of the 518,000 metric tons offered found buyers. Further auctions are possible, so the coming weeks will reveal whether Chinese buyers will increase their orders from the U.S. or rely more heavily on their existing stockpiles.
