# China signs US soy export deals, but unclear if sales will follow  | Reuters

> As of Oct. 12, China had bought just under 10 million tons of US soybeans for the 2023-24 marketing year. That is the lowest volume for the date outside the 2018 and 2019 trade-war years since 2008. Signed agreements do not guarantee that the sales will be carried out.

- Date: 2023-10-25 · published 2023-10-25T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/14804-china-signs-us-soy-export-deals-but-unclear-if-sales-will-follow-reuters
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weak forward buying by the largest importer leaves US soybean export demand under pressure. Unless the signed deals convert into shipments, prices face continued downside.

## Read by commodity

- SBM: neutral
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-11-12 | [China's soybean glut could defeat US export hopes after trade thaw \| Reuters](https://feedsoft.ai/events/21942-china-s-soybean-glut-could-defeat-us-export-hopes-after-trade-thaw-reuters.md) | +3.6% | -2.0% |
| SOY | 2025-07-29 | [China's soymeal glut raises demand doubts ahead of US soybean export season \| Reuters](https://feedsoft.ai/events/14645-china-s-soymeal-glut-raises-demand-doubts-ahead-of-us-soybean-export-season.md) | -2.0% | +3.7% |
| SOY | 2020-06-23 | [Column: Does China still need U.S. soybeans after Brazil's export bonanza? - Braun \| Reuters](https://feedsoft.ai/events/52673-column-does-china-still-need-u-s-soybeans-after-brazil-s-export-bonanza-braun.md) | -1.1% | +2.3% |
| SOY | 2022-02-09 | [Plunge in U.S. soy exports to China in 2021 exposes Phase 1 flaws  \| Reuters](https://feedsoft.ai/events/14955-plunge-in-u-s-soy-exports-to-china-in-2021-exposes-phase-1-flaws-reuters.md) | -1.1% | +7.5% |
| SOY | 2025-08-13 | [US losing out on China soybean sales as Brazil fills key supply period \| Reuters](https://feedsoft.ai/events/12449-us-losing-out-on-china-soybean-sales-as-brazil-fills-key-supply-period-reuters.md) | +0.1% | -0.6% |
| SBM | 2025-10-30 | [China vows to boost US farm trade but leaves details unclear \| Reuters](https://feedsoft.ai/events/14626-china-vows-to-boost-us-farm-trade-but-leaves-details-unclear-reuters.md) | +4.7% | +1.7% |
| SBM | 2026-10-14 | [Exclusive-China buys 8-10 US soybean cargoes in first deals since Trump-Xi summit, sources say By Reuters](https://feedsoft.ai/events/14536-exclusive-china-buys-8-10-us-soybean-cargoes-in-first-deals-since-trump-xi.md) | -4.3% | — |
| SBM | 2025-08-07 | [China soybean imports hit record July high on strong Brazil exports, US trade uncertainties \| Reuters](https://feedsoft.ai/events/12452-china-soybean-imports-hit-record-july-high-on-strong-brazil-exports-us-trade.md) | +4.3% | +2.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/china-signs-us-soy-export-deals-unclear-if-sales-will-follow-2023-10-25/

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