China has secured at least 7 million tons of US soybeans after heavy buying in the past two weeks, passing the halfway mark toward meeting its 12-million ton purchase agreement with the Trump administration, according to people familiar with the deals.
The tally follows a wave of buying from Sinograin, the state company in charge of managing China’s strategic grain reserves. The stockpiler booked about 2 million tons from the US last week, according to the people. That has continued this week, with purchases of at least seven soybean cargoes, or more than 400,000 tons, they said.
The appearance of ...