TRADE UPDATE: Day Three Brings a Third Buy of U.S. Soybeans by China
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China Soybean Purchase 020619
China is continuing to buy more U.S. soybeans. The USDA reported Wednesday export sales of 586,000 mt of beans for delivery to China, another 182,000 mt were for delivery to unknown destinations. This represents China's third buy in as many days.
On Tuesday, the USDA reported 2.6 mmt for delivery to China, another 274,000 mt was scheduled for delivery to unknown destinations. On Monday, we reported on a buy of 612,000 mt. If it all goes to China, it represents a total buy so far this week of 4.25 mmt.
Last week, China's lead trade negotiator Vice Premier Liu He met with President Trump in the Oval Office. He said at that time China would be buying another 5 mmt of U.S. soybeans.
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