Reports China Bought Four Cargoes of U.S. Soybeans

Posted on Mon, 05/11/2020 - 15:38

Chinese importers purchased at least four cargoes (around 240,000 MT) of U.S. soybeans today for shipment beginning in July, Reuters is reporting, citing two traders familiar with the deals.

More business could be coming as state-owned firms had been seeking offers for up to 20 cargoes (1.2 MMT) to be shipped from July to November, according to the trade sources. Rumors China has been shopping has provided support to futures in recent sessions. 

USDA announced 136,000 MT in old-crop soybean sales to China and another 242,000 MT in new-crop soybean sales to China last week.