# China makes huge soybean buys late in season

> China bought about 3 million metric tons of US soybeans in recent days as importers shifted from Brazil, with confirmed sales to China down 35% year on year as of late October. Analysts said the buying may be a one-off goodwill gesture ahead of the APEC summit, given Brazil's record harvest and a strong dollar.

- Date: 2023-11-16 · published 2023-11-16T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/14800-china-makes-huge-soybean-buys-late-in-season
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Large Chinese purchases lift near-term US soybean demand and export prices, but analysts see the buying as temporary. Brazil's low-cost supply and the strong dollar limit the lasting price support.

## Read by commodity

- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-10-27 | [US export report: China buys soybeans / Spain buys](https://feedsoft.ai/events/68330-us-export-report-china-buys-soybeans-spain-buys.md) | +1.8% | +2.3% |
| SOY | 2019-02-02 | [China's COFCO buys million-tonne batch of U.S. soybeans](https://feedsoft.ai/events/60472-china-s-cofco-buys-million-tonne-batch-of-u-s-soybeans.md) | -0.4% | -1.6% |
| SOY | 2024-06-14 | [China is Buying Soybeans Again, But Why? - AgWeb](https://feedsoft.ai/events/14741-china-is-buying-soybeans-again-but-why-agweb.md) | -2.4% | -9.4% |
| SOY | 2022-01-26 | [China’s soybean crush margins worsen \| Latest Market News](https://feedsoft.ai/events/12640-china-s-soybean-crush-margins-worsen-latest-market-news.md) | +8.6% | +19.0% |
| SOY | 2019-09-16 | [China buys $67 million Worth of U.S. Soybeans as Trade War Eases](https://feedsoft.ai/events/56927-china-buys-67-million-worth-of-u-s-soybeans-as-trade-war-eases.md) | -0.2% | +5.8% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/china-makes-huge-soybean-buys-late-in-season/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.