China Buys 168,000 Metric Tons of Soybeans

China Buys 168,000 Metric Tons of Soybeans

USDA says delivery is for 2014/2015 marketing year.

Private exporters reported China bought 168,000 metric tons of 2014/2015 soybeans, USDA said on Monday.

China is the largest buyer of U.S. soybeans and as of July 31 had bought 27.54 million metric tons of 2013/2014 soybeans and nearly 9.8 million of the 2014/2015 crop, according to the latest USDA weekly export report.

The marketing year for soybeans begins Sept. 1.

Exporters are required to report to USDA any export sales activity of 100,000 tons or more of one commodity made in one day or quantities totaling 200,000 tons or more in any reporting period, except 20,000 tons for soybean oil, made in one day to one destination by the following business day.

China soy delivery is for 2014/2015 marketing year.

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