China increases purchases of US soybeans and acquires approximately 1 million tons.

China has completed a new round of soybean purchases from the United States, boosting demand for the American oilseed. United States Department of Agriculture (USDA) The Chinese state-owned company confirmed on Monday (3) the sale of nearly 500,000 tons of soybeans to the Asian country. The announcement came after Reuters reported that Chinese state-owned companies acquired between 14 and 16 shipments of soybeans last Friday (31), a volume estimated at around 1 million tons. According to the agency, buyers linked to the Chinese government negotiated at least eight shipments for dispatch from terminals on the US Gulf Coast and another six shipments originating from ports in the Pacific Northwest, with shipments scheduled for October and November. According to market operators, most of the acquisitions were made by the state-owned Sinograin, responsible for China's strategic grain reserves. "These deals were mainly closed by Sinograin, and the main reason is the drop in prices last week. There are plans for President Xi to visit the US in September, so China is also trying to buy American soybeans, fulfilling the commitment made to Washington," an operator from an international grain trading company based in Asia told Reuters.

This text was translated by machine from Brazilian Portuguese.