China Buys First US Soy for 2024 Crop — About Seven Months Late
- Asian country made its first purchase for upcoming US season
- Often, sales are booked in December before following harvest
Workers harvest soybeans in Pace, Mississippi.
Photographer: Rory Doyle/BloombergThis article is for subscribers only.
China, the world’s largest importer of soybeans, made its first purchase of US soybeans for the upcoming season — months later than usual.
The US Department of Agriculture announced on Wednesday that China purchased 132,000 metric tons of soybeans for the 2024-25 season. That marked the first transaction of its kind for the marketing year.