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China Buys Four Soybean Cargoes

About 240,000 tonnes of U.S. soybeans will ship beginning in July

Soybeans3

Chinese importers bought at least four cargoes, or about 240,000 tonnes, of U.S. soybeans on Monday for shipment beginning in July, two traders familiar with the deals said.

According to Reuters, more sales are possible as a Chinese state owned firm had sought offers for up to 20 cargoes shipped from July to November from terminals along the U.S. Gulf Coast or the Pacific Northwest, the traders said.

Sales to China so far in 2020 now total more than 3 million tonnes, but that is well short of the nearly 10 million tonnes of U.S. soybeans booked by China in the same time last year, according to U.S. Department of Agriculture data.

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