China buys 1 million tons of US soybeans ahead of Xi visit, sources say

Business Recorder reported that China purchased roughly 1 million metric tons of US soybeans over the past week, spread across 14 to 15 cargoes, according to four traders who spoke to Reuters. The buying spree comes as the world's largest oilseed importer increases its orders before President Xi Jinping travels to Washington later in the month.

Those buys bring China's US soybean total to roughly half the annual commitment of 25 million tons that Washington says Beijing pledged through 2028. Sinograin, the state stockpiler, reportedly booked the cargoes, which are due to ship from Gulf ports in the US during December to February. Sinograin had yet to comment when Reuters sought a response. On Wednesday, the US Department of Agriculture recorded sales of 340,000 tons to China and 100,000 tons more to unidentified destinations.