China Steps Up U.S. Soybean Purchases Ahead of Xi Visit

China purchased about 1 million metric tons of U.S. soybeans last week, providing a boost to American growers as harvest approaches and trade talks continue between Washington and Beijing.

Four traders told Reuters that Chinese buyers booked 14 to 15 cargoes for shipment from U.S. Gulf terminals between December and February. USDA separately reported Wednesday sales of 340,000 metric tons to China and 100,000 tons to undisclosed destinations. Reuters reported the purchases bring China’s U.S. soybean buying to nearly half of the 25 million metric tons Beijing committed to purchase annually through 2028.

The buying comes as inventories tighten in Brazil, the world’s leading soybean exporter. Chinese President Xi Jinping is expected to visit Washington later this month. President Donald Trump said in July the meeting was scheduled for Sept. 24, although China has not formally confirmed the date.