China Resumes Buying U.S. Soybeans Reuters reports that a Chinese state-owned company purchased at least five cargoes of U.S. soybeans today. The five cargoes total at least 300,000 MT. Reports are the soybeans are to be shipped mostly from the Gulf Coast in August and September.  The Chinese buyer also was inquiring about purchasing U.S. soybeans for export from the PNW, but there was no verification any cargoes were purchased. The buyer most likely was Cofco, but it also could have been Sinograin. The Chinese government has indicated it plans to import 10 MMT of soybeans to replenish its state reserve stocks. A large share of the imports is likely to be from the U.S. so China can comply with its commitment to purchase large amounts...

TAGS – Soy & Oilseeds, China, North America, South America