Chinese importers signed contracts to buy at least 10 batches of soybeans from the US worth 300 million USD on November 25.
China buys 10 cargoes of US soybeans under new contracts
The purchases came a day after a phone call between US President Donald Trump and Chinese President Xi Jinping. The deals are the latest signs of improving trade relations between the world's two top economies .
One trader said China bought about 12 cargoes, while another estimated the volume at 10-15, each weighing between 60,000 and 65,000 tonnes. All of the cargoes are scheduled to ship in January 2025 from U.S. Gulf Coast and Pacific Northwest ports.
China has been buying U.S. soybeans at a time when its prices are higher than Brazil’s. Traders said China paid about $2.30 a bushel for Chicago futures contracts for January 2025 delivery for shipments from Gulf Coast ports and $2.20 a bushel for Pacific Northwest ports, well above the price of Brazilian soybeans, which stood at about $1.80 a bushel.
China had largely stopped buying US soybeans for months amid trade tensions between the two countries. But it has recently ramped up purchases following meetings between the two countries’ leaders in South Korea in late October.
China's state-owned grain buyer COFCO has led the buying, buying nearly 2 million tonnes of US soybeans since late October 2025, according to US Department of Agriculture data.
Recent deals are still well below the 12 million metric tons announced by the White House. However, US Treasury Secretary Scott Bessent said on November 25 that China’s purchases of US soybeans were “on track,” citing a deal under which China would buy 87.5 million metric tons of US product over the next three and a half years.