China brings US soybean purchases to 10 mln tons

China has increased its purchases of U.S. soybeans, bringing the total volume close to 10 million metric tons in the 2025/26 season. According to traders cited by Reuters, the state stockpiler Sinograin bought around 10 U.S. soybean cargoes this week, totaling approximately 600,000 tons, as Beijing continues buying from the United States following a trade truce reached in late October.

The newly purchased cargoes are scheduled for shipment between March and May, a period that coincides with the peak export season for Brazil, the United States’ main competitor in the global soybean market. Market participants estimate that China’s total purchases from the latest U.S. crop now range between 8.5 million and nearly 10 million tons.

These volumes represent up to 80% of the 12 million tons that China pledged to buy by the end of February. Traders expect additional purchases in the coming weeks, which could allow Beijing to fully meet its announced target for U.S. soybean imports.

The U.S. Department of Agriculture (USDA) reported private sales of 336,000 tons of soybeans to China for shipment in the 2025/26 season, which ends on August 31. This brought China’s confirmed purchases since October to nearly 6.9 million tons, while a significant share of sales recorded as destined for “unknown buyers” is also believed to be headed to China.

China’s buying activity has supported Chicago soybean futures in recent weeks, helping prices recover toward the end of 2025 despite ample domestic supplies and weak demand. Although U.S. soybeans remain more expensive than newly harvested Brazilian supplies, the price premium has narrowed due to a stronger Brazilian real and a weaker U.S. dollar, keeping U.S. exports competitive.

Tags: China, soybean, USA