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China, Unknown Make U.S. Soybean Buys

China, Unknown Make U.S. Soybean Buys

Delivery is for 2014/2015 marketing year, USDA reports

Private exporters reported China bought 15.4 million bushels of 2014/2015 U.S. soybeans, and unknown destinations bought 4.15 million, USDA said on Wednesday.

China is the largest foreign buyer of U.S. soybeans and as of October 9 had outstanding sales of 569.20 million bushels of the 2014/2015 crop, according to the latest USDA weekly data. Unknown destinations had 231.9 million in outstanding sales.

The marketing year for soybeans began Sept. 1.

Delivery is for 2014/2015 marketing year, USDA reports. (USB photo)

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.

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