China has bought at least 8 million tons (7.25 million tonnes) of US soybeans this year, according to people familiar with the matter, putting the world’s top importer on track to meet a pledge it made two months ago as part of an apparent trade truce with Washington.
State-owned buyers have continued to book US cargoes into late December, the people said, asking not to be named as they are not authorised to discuss the purchases.
That extends a buying spree that began in October and maintains a pace that has reassured American exporters, otherwise wary that Beijing’s commitment might slip amid limited visibility and unclear deadlines.
Advertisement
The shipments booked so far are mostly for loading between December and March, the people said.
The White House said immediately after talks between US resident Donald Trump and Chinese counterpart Xi Jinping that China had pledged to buy at least 12 million tons of US soybeans by the end of this year.
Advertisement
US officials later clarified the deadline was in fact the end of February. Beijing has not confirmed the commitment, but the Chinese government has moved to reduce tariffs on the crop and lifted import bans on three American exporters.