Private exporters sold 464,000 tonnes of US soyabeans to China for shipment in the 2019/20 marketing year that began Sept. 1, the US Department of Agriculture (USDA) said on Wednesday, the latest in a flurry of purchases by the world's top soya importer.
The USDA announcement was expected after sources on Monday said that Chinese buyers had booked up to 600,000 tonnes in purchases for shipment from November to January as part of a tariff-free quota awarded to some importers.
The purchases come ahead of high-level US-China trade talks, due to start next week, aimed at ending a nearly 15-month trade war that has slashed US agricultural exports and rattled global markets.
China has bought more than 2.1 million tonnes of US soyabeans since resuming purchases in early September, according to USDA data. Total US soyabean sales to China, however, remain well below normal as importers have sourced the majority of their soyabeans from South America since the trade war with the United States erupted last year.
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