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China purchased about 1 million metric tons of U.S. soybeans this week, accelerating agricultural trade between the two countries ahead of Chinese President Xi Jinping’s planned visit to Washington later this month.
The purchases covered 14 to 15 soybean cargoes, Reuters reported Thursday, citing four traders familiar with the transactions. The latest buying spree comes as China, the world’s largest importer of oilseeds, steps up purchases of American agricultural commodities.
Chinese state-owned stockpiler Sinograin was responsible for securing the cargoes, according to the report. The soybeans are scheduled to be shipped from U.S. Gulf export terminals between December and February.
The transactions represent another significant step toward Beijing fulfilling its commitment to purchase 25 million metric tons of U.S. soybeans annually through 2028. That agreement was previously announced by the White House as part of broader trade arrangements between the world’s two largest economies.
With the latest deals included, China has now purchased nearly half of its annual 25-million-ton commitment from the United States.
The timing of the soybean purchases is particularly notable as Xi prepares to travel to Washington later in September. Agricultural trade has historically been an important component of U.S.-China economic relations, with soybean exports often receiving close attention during periods of trade negotiations or diplomatic engagement.
China’s increased buying could provide support for U.S. soybean exporters and farmers while strengthening demand for shipments through Gulf terminals. The purchases may also draw attention from commodity traders monitoring whether Beijing will continue accelerating imports as it works toward its annual target.
Market participants are likely to watch for additional U.S. soybean purchases in the coming weeks, particularly as Xi’s Washington visit approaches and both countries navigate their broader economic and trade relationship.
