Overview
- Traders report 10–15 cargoes worth about $300 million were contracted since Tuesday following the leaders’ phone call.
- All cargoes are scheduled to load in January from U.S. Gulf Coast terminals and Pacific Northwest ports.
- State-run COFCO has led the buying, with nearly 2 million tons booked since late October, according to USDA data.
- The new purchases remain below the 12 million tons previously announced by the White House for near-term buying.
- Treasury Secretary Scott Bessent said buying is on schedule under an agreement totaling 87.5 million tons over roughly three and a half years.