TRADE UPDATE: China Reportedly Buying More U.S. Soybeans

January 7, 2019 03:03 PM
 
Reuters is reporting China bought more U.S. soybeans on Monday.

Reuters is reporting China bought more U.S. soybeans on Monday. Reuters says it spoke with two traders with knowledge about the deal. It says one trader said Chinese state-owned firms bought three cargoes of soybeans or about 180,000 tons.  Another trader said the total was closer to 15 cargoes of beans or about 900,000 tons.

It reports the soybeans would be mostly shipped from terminals in the Pacific Northwest. It is harder now to confirm actual sales of beans to China due to the partial U.S. government shutdown.  The USDA is not releasing it's daily export sales reports.  United States export inspections for soybeans show 2.5 million bushels were approved for China, but it's not known if the shipment will actually go there.

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