China Purchases 1 Million Tons of US Soybeans Ahead of President Xi's Washington Visit
2 sources across 2 countries · Indonesia · United Kingdom
Who reported this
- The Jakarta Post
- Reuters
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- Centre-left
- Centre
- Centre-right
- Right
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China has purchased approximately 1 million metric tons of US soybeans this week, according to four traders. The increase in buying comes ahead of Chinese President Xi Jinping's planned visit to Washington on September 24, a date previously mentioned by US President Donald Trump. These purchases bring China's total US soybean buying to nearly half of the 25 million tons the White House stated Beijing committed to annually through 2028.
The US Department of Agriculture reported 340,000 tons of US soybean sales to China and 100,000 tons to unknown destinations on Wednesday. State buyers Sinograin and COFCO did not immediately respond to requests for comment. One Asia based trader noted that Sinograin has increased purchases specifically before the visit.
China currently maintains a 10 percent additional tariff on all US goods following a tariff war last year. A reduction in these tariffs could encourage private Chinese crushers to return to US supplies. Additionally, the buying occurs as global oilseed supplies tighten due to dwindling inventories in Brazil. Following a May meeting between leaders, Washington stated China agreed to buy 17 billion dollars of non soy US agricultural goods annually through 2028 while maintaining the soybean commitment. China has not officially confirmed the visit date or the volume of planned purchases.
How each side framed it
- Centre-left
- The reporting detailed the trade volume and diplomatic context while noting the impact of tariffs and global supply constraints.
- Centre
- The reporting focused on the trade volume and the diplomatic timing of the purchases.
Sources
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