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Slow soybean sales to China continue as timing remains unclear

China has been buying U.S. soybeans weekly since late October, but the CEO of the American Soybean Association says it’s still far from reaching its 12-million-metric-ton commitment.

“We’re trying to get some clarity on exactly when are those purchases going to be made,” says Stephen Censky.

Since the October meeting, Brownfield has tracked reported sales of beans to China at more than 2.7 million tons. That excludes sales to unknown, which could be China, and whatever sales have occurred that fall below the 100,000 ton reporting threshold.

Censky says the deadline for China to make those purchases keeps getting pushed back.

“Initially it was by the end of the year cited by U.S. trade officials and the White House. Now they’re saying, perhaps by the end of February, beginning of March.”

He says it matters when China buys U.S. soybeans.

“I think that’s going to be reflected in the price. The sooner you can make those purchases and have that apply theoretically, you know, that means we’re going to have higher prices.”

The U.S. and China continue to work on a trade agreement, but Censky says he’s awaiting more details and the signing of the deal.