China Buys More US Soybeans But Market Remains Unimpressed

The US Department of Agriculture announced the first sale of US soybeans to China in a week, yet traders were unmoved as purchases remain far short of the 12 million tons promised.

The agency on Friday announced the sale of 462,000 tons of soybeans to China. Data show the country has now purchased about 2.71 million tons of the oilseed since Oct. 30.

Soybean futures dipped as much as 1% on Friday, and were on track for the biggest weekly loss since early September.

“The slow buying pace has not been enough to result in a significant rally,” the Hightower ...