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China buys 1 million tons of U.S. soybeans ahead Xi visit

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Story summary
  • China bought about 1 million metric tons of U.S. soybeans ahead of President Xi Jinping’s Washington visit.
  • The purchase equals 14-15 vessel cargoes loaded from U.S. Gulf terminals between December and February.
  • USDA reported sales of 340,000 metric tons to China and 100,000 metric tons to undisclosed destinations.
  • The deal brings China’s cumulative U.S. soybean purchases to nearly half of the 25 million-ton commitment through 2028.
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