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China, Unknown Buy 450,000 Metric Tons of U.S. Soybeans

China, Unknown Buy 450,000 Metric Tons of U.S. Soybeans

China also buys 360,000 of optional-origin soybeans, USDA says

Private exporters reported that China bought 240,000 metric tons of 2014/2015 U.S. soybeans and unknown destinations bought 210,000 metric tons, USDA said on Thursday.

In addition, China bought 360,000 metric tons of optional-origin soybeans. An optional-origin contract provides that the origin of the commodity may be the United States or one or more other exporting countries.

China also buys 360,000 of optional-origin soybeans, USDA says

China is the leading buyer of U.S. soybeans. USDA's weekly export report showed that as of Sept. 4 it had bought nearly 13.34 million metric tons of the 2014/2015 crop. Soybean sales to unknown destinations totaled 6.38 million in that weekly report. A year earlier, sales to China totaled 14.9 million and to unknown destinations 4.53 million.

The marketing year for soybeans began Sept. 1.

USDA issues both daily and weekly export sales reports to the public.  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.


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TAGS: USDA
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