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China Buys 4.3 Million Bushels of Soybeans

China Buys 4.3 Million Bushels of Soybeans

Delivery is for 2014/2015 marketing year.

Private exporters reported China bought 4.3 million bushels of 2014/2015 U.S. soybeans, its second reported daily purchase this week, USDA said on Thursday.

China is the largest foreign buyer of U.S. soybeans and as of October 16 had outstanding sales of 583.5 million bushels of the 2014/2015 crop, according to USDA weekly data. In Thursday's weekly export report, China was the largest buyer of U.S. soybeans last week taking 62.5 million bushels.

The marketing year for soybeans began Sept. 1.

Private exporters reported China bought 4.3 million bushels of 2014/2015 U.S. soybeans

Exporters are required to report to USDA any export sales activity of 100,000 tons or more of one commodity made in one day or quantities totaling 200,000 tons or more in any reporting period, except 20,000 tons for soybean oil, made in one day to one destination by the following business day.

TAGS: USDA
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