Market News & Headlines >> USDA Confirms More U.S. Soy Sales to China
USDA on Tuesday morning confirmed further sales of U.S. soybeans to China, bringing the latest round of confirmed Chinese buying closer to the 5 million-metric-ton purchase offered by China’s vice premier after last week’s U.S.-China trade talks in Washington.
USDA announced exporters had sold 2.603 million metric tons (95.6 million bushels) of U.S. soybeans to China for delivery during the 2018/19 marketing year. Previously, USDA on Monday morning had reported sales of 612,000 metric tons of soybeans to China for 2018/19 delivery, so this week’s confirmed sales to China total 3.215 million tons (118.1 million bushels).
USDA also reported on Tuesday morning that exporters had sold 274,000 metric tons of soybeans for 2018/19 delivery to an unknown destination that could be China as well. Total sales announced by USDA since Monday equal 3.489 million tons (128.2 million bushels).
In a previous round of buying in December, Chinese buyers are thought to have purchased around 5 million metric tons of U.S. soybeans, but only about 3.03 million tons (111.2 million bushels) of purchases have confirmed so far due to the delay of USDA export sales data because of the government shutdown.
USDA’s Weekly Export Sales report for the week ended Dec. 13 showed sales of 1.561 million tons to China and its report for the week ended Dec. 20, which was finally released this past Friday, listed sales of another 1.466 million tons to China.