China fulfils soybean pledge through state procurement channels

China has completed purchases of roughly 12 million tonnes of US soybeans over the past three months, meeting a key trade commitment outlined by the US administration.

China, the world’s largest soybean consumer, had been nearing the target for days before securing sufficient cargoes, according to traders familiar with the shipments.

The buying satisfies a pledge announced by the White House last year, following renewed trade talks between Washington and Beijing.

US Treasury Secretary Scott Bessent said confirmation came directly from China’s leadership.

“We’re looking to next year’s 25 million tons,” Bessent said after Vice Premier He Lifeng confirmed completion of the purchases.

The procurement push followed months of limited US crop buying as tariffs escalated between the two countries. China returned to the market in late October, shortly before a summit between US President Donald Trump and Chinese leader Xi Jinping.

The original 2025 deadline for purchases was later brought forward to February, adding urgency to procurement execution.

Chinese authorities eased the pathway by reducing tariffs and lifting import restrictions on three US suppliers. Much of the buying has been carried out by state-owned firms, particularly Sinograin, which manages China’s strategic food reserves.

Traders said a significant share of the cargoes will be directed into state stockpiles, reinforcing procurement’s role in national food security planning.

Despite meeting the headline target, the purchases do not indicate a structural shift in sourcing strategy.

China continues to diversify suppliers, with Brazil expected to deliver another large harvest. Beijing has already booked Brazilian soybeans for loading through August, covering demand through March.

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