China orders 13 more cargoes of US soybeans, pushing new-crop total to 5 million tonnes

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China booked at least 13 cargoes of US soybeans, or roughly 800,000 tonnes, last Friday, taking advantage of lower market prices, according to two Asia-based grain traders. The latest purchases lift China's total new-crop US soybean orders to around 5 million tonnes, signalling that China continues to step up imports to replenish stockpiles amid favourable pricing and still-strong domestic demand.

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⛏Soybean Futures
SOYBEAN
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China's increased purchases of US soybeans signal strong demand for the commodity.

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