What are the results of the Sichuan-Xi meeting? Chinese state-owned enterprises purchase 8 to 10 shipments of U.S. soybeans

Sources pointed out that Chinese state-owned enterprises purchased 8 to 10 shipments of U.S. soybeans. The picture shows farmers harvesting soybeans in Ohio, USA, on September 27, 2026. (AFP)

"Reuters" exclusively revealed on the 14th that according to three industry sources, Chinese state-owned enterprise buyers have purchased 8 to 10 Panamax cargoes of U.S. soybeans this week. This is Beijing's first purchase of U.S. soybeans since the Trump-Xi meeting in Washington in September this year.

The source also said that the soybeans will be shipped from December; the buyer is a Chinese state-owned trading company. Panamax freighters are large ships specially designed to fit into the Panama Canal locks. Each ship can carry approximately 65,000 metric tons of soybeans.

China has not purchased U.S. soybeans for several weeks, and the market has been waiting for signs that it will resume purchases; China's suspension of U.S. soybean purchases was partly due to weak demand during China's National Day holiday earlier this month.

One of the industry sources also said that Chinese state-owned buyers paid $3.10 to $3.20 per bushel more than the January soybean futures contract quoted by the Chicago Board of Trade.

After the "Trump-Xi meeting" in September, the United States and China simultaneously announced a list of goods to be subject to tax reductions, but soybeans were not included in the list, dispelling market expectations that private soybean crushers (crushers) would return to the market to purchase more U.S. soybeans.

Before this latest deal, China had purchased approximately 13.7 million metric tons of U.S. soybeans, more than half of China’s commitment to purchase 25 million metric tons of U.S. soybeans annually.