Overview
- State trader Cofco purchased three U.S. soybean cargoes totaling roughly 180,000 tonnes for December–January shipment, according to traders.
- The timing comes just before a planned meeting between President Donald Trump and President Xi Jinping following a preliminary framework reached in Malaysia.
- U.S. officials welcomed the move, with Treasury Secretary Scott Bessent predicting more substantial buying and Agriculture Secretary Brooke Rollins praising the purchases publicly.
- Chicago soybean futures recently hit a roughly 15‑month high on hopes for a deal, though operators caution the volumes are small and not proof of a broad reopening.
- China had largely pivoted to Brazilian and Argentine supplies this season, and the Rosario exchange projects about 106.4 million tonnes of total soybean imports, highlighting the modest scale of these U.S. shipments.