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Chinese state-owned trading firms bought another 10 to 13 cargoes of U.S. soybeans for December to March shipment, after 8 to 10 cargoes booked earlier in the week. Combined purchases this week are estimated at 1.2 to 1.5 million metric tons.
Reuters estimates China has bought about 15 million metric tons so far against a White House target of 25 million for the 2026-27 marketing year.
Renewed Chinese state buying supports US soybean export demand and prices, reducing fears of a stalled China market. Remaining purchases needed to reach the target are still sizeable, so the price support may be partial.
conven.orgNov 12, 2026After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
