China makes first announced U.S. soybean buy in months

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China makes first announced U.S. soybean buy in months

The USDA says China bought 204,000 tons of U.S. soybeans for delivery this marketing year.

That is the first announced purchase of U.S. beans by China since November 6th.

There have been several sales reported as heading to an unknown destination over those two months, which could turn out to be China when it’s time for delivery.

The 2020/21 marketing year for soybeans runs from September 1st, 2020 to August 30th, 2021

The USDA’s next set of supply and demand estimates is out Tuesday at Noon Eastern/11 Central.