China buys 300,000 t of U.S. soybeans, bolstering Chicago futures

State‑owned Chinese grain trader Cofco purchased at least five cargoes – roughly 300,000 tonnes – of U.S. soybeans for shipment between September and November. The deal was made at about $2.70‑$2.80 per bushel above the November CBOT futures price and is part of Beijing’s effort to meet the U.S. pledge of 25 million tonnes of soybean imports per year.

The purchase lifted international soy prices, giving support to contracts on the Chicago Board of Trade. Analysts said the move revives expectations of a gradual resumption of China‑U.S. grain trade and may also affect soybean pricing in Brazil, where Chinese demand influences export competitiveness.