Overview
- Treasury Secretary Scott Bessent said Vice Premier He Lifeng confirmed China completed roughly 12 million tons of U.S. soybean buys, meeting the initial target.
- USDA data showed just over 8 million tons booked by Jan. 8, with additional daily sales since then pointing to a reporting lag versus traders’ tallies.
- Traders report state firms Sinograin and COFCO executed bulk purchases largely for strategic reserves after Beijing eased tariffs and lifted import restrictions.
- Chinese buyers are also securing new‑crop soybeans from Brazil and Argentina, preserving South America as a key alternative source.
- Analysts caution that shifting U.S. trade threats could complicate the multi‑year goal of 25 million tons annually, as U.S. farmers contend with high costs despite about $12 billion in planned aid.