China's Sinograin buys 10 cargoes of US soybeans, totaling 600,000 tonnes, amid a trade truce and peak export season for Brazil.
China's state stockpiler Sinograin has purchased 10 cargoes of US soybeans, reported Reuters, as the world's largest buyer continues sourcing from the United States following a late October trade truce.
Traders indicated that the shipments, totaling approximately 600,000 tonnes, are scheduled for delivery between March and May, coinciding with the peak export season for Brazil, a key rival supplier.
Analysts estimate that China's total purchases from the current US crop will range from 8.5 million to nearly 10 million tonnes. This amount represents up to 80 percent of the 12 million tonnes pledged by US Treasury Secretary Scott Bessent for delivery by the end of February.
