China buys 1 million tons of US soybeans ahead of Xi visit, sources say

China bought 14 to 15 cargoes of US soybeans this week, or around 1 million metric ‌tons, ⁠four ⁠traders told Reuters, as the world's top oilseed buyer steps up purchases ahead of Chinese President Xi Jinping's visit to Washington later this month.

The purchases ⁠take China's ‌total US ​soybean buying ​to nearly half of ⁠the 25 million tons the White ​House said Beijing had committed ​to annually through 2028.

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Chinese state stockpiler Sinograin booked the cargoes for shipment from US Gulf terminals between ‌December and February,
traders said.

Sinograin did not immediately ​respond to ​Reuters' ⁠requests for comment.

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The US Department of Agriculture on Wednesday reported 340,000 tons of US soybean sales to China and another 100,000 tons to unknown destinations.