The US Department of Agriculture (USDA) on Monday confirmed reports from 6 February that China purchased more US soybeans, announcing 264,000 metric tonnes (t) of new sales at the end of last week.
Indications of renewed Chinese purchasing of US soybeans created a spike in commodity futures markets at the end of last week. The industry is working to place more sales to China in the context of US president Donald Trump's 4 February announcement that China would buy 8mn t of US soybeans beyond the previously agreed 12mn t.
The Trump administration on 20 January announced that China had fulfilled its 12mn t obligation, which led some to view last week's market activity as confirmation that China was expanding its US soybean buying. But the USDA's sales announcement today resulted in far less movement in futures markets, with the May-delivered Chicago Board of Trade soybean contract opening the day mostly unchanged from the prior week's close. This may indicate last week's buying activity was China working to fulfill the current 12mn t obligation, rather than exceeding it, market participants said.
Weekly USDA export sales data put Chinese purchases since the October 2025 trade agreement at less than 10mn t as of 29 January.
It is possible China has made purchases it has yet to declare, with 3.08mn t of US soybeans sold for export without a declared destination as of 29 January, USDA data show. But it appears there is room for China to make additional purchases in the coming weeks as it acquires whatever amount of the initial obligation that remains open.
Further announcements of soybean sales to China are possible in the coming weeks. It remains unclear when, or if, the market will view such sales as exceeding the current 12mn t threshold.
