Overview
- State-owned COFCO purchased about 180,000 tonnes across three cargoes for December–January shipment via U.S. Pacific Northwest ports, according to Reuters.
- The buying pause on new-crop U.S. beans had pushed China to rely on South America, with September imports dominated by Brazil and increased flows from Argentina.
- CBOT soybean futures jumped to roughly $10.91 per bushel on Tuesday, marking a 15-month high on the report.
- Market observers cast the purchase as a modest gesture ahead of the planned meeting between President Trump and President Xi.
- CSIA notes Brazilian offers carry steeper premiums and crushers face weak margins, while China still needs an estimated 8–9 million tonnes for December–January.