Overview
- Private exporters reported 792,000 metric tons of U.S. soybeans sold to China for the 2025/2026 marketing year.
- Reuters reported that state-run COFCO bought at least 14 U.S. soybean cargoes, roughly 840,000 metric tons, for December–January shipment.
- Chicago soybean futures surged as much as 3.2% and reached a 17-month peak following reports of renewed Chinese buying.
- U.S. processing strength added support, with NOPA members posting a record October crush of about 227.6 million bushels.
- Official USDA data through November 12 still show limited confirmed U.S. soybean sales to China, and analysts note execution risks from South American competition, including Argentine meal clearing Chinese customs.