China booked another flurry of US soybean cargoes, as the country makes headway towards fulfilling the purchase pledge made as part of a trade truce struck last year, according a Bloomberg report.
China’s state-owned firms bought at least another 13 soybean cargoes — or roughly 800,000 tons — on August 5, according to people familiar with the matter.
That comes on top of 488,000 tons announced by the US Department of Agriculture on August 3, which marked the biggest daily sale for China this year, and another 132,000 tons announced on August 4.
It brings China’s total purchases for the 2026-27 season to about 6 million tons, the people told Bloomberg.
That would be close to a quarter of the way towards meeting the at least 25 million tons of US soybeans the White House has said China will buy annually through 2028.
The target was announced as part of the trade truce struck by President Donald Trump and his Chinese counterpart Xi Jinping during their late October summit in South Korea.
The two leaders met again in Beijing in May, after which the US announced that China will also buy at least USD 17 billion of US agricultural products annually over the same period, on top of the soybean pledge. The amount will be prorated for 2026, the White House said.
The shipments are mainly for loading from September and will come from both the US Gulf and Pacific Northwest, the people said. The purchases come after a recent decline in prices, with Chicago soybean futures trading near a one-month low.