Chinese Demand Drives Soybean Sales Ahead of Harvest

China dominated new-crop U.S. soybean buying last week, purchasing roughly 53.1 million bushels out of a total of about 64.7 million bushels sold.

This strong demand signal for growers approaching harvest comes as corn also shows solid sales, with old-crop commitments totaling about 16.2 million bushels and new-crop commitments reaching 36.4 million.

The USDA reports that China was the leading buyer of U.S. soybeans in the new marketing year, with other countries like Mexico, Japan, and Spain also showing interest in U.S. corn exports.