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According to Reuters, these transactions were mainly shipped from US Pacific Northwest ports in October
.
Prior to this, the Chicago Board of Trade's November soybean futures plunged nearly 7% on Thursday, falling to the lowest level since March of this year
.
.
Prior to this, the Chicago Board of Trade's November soybean futures plunged nearly 7% on Thursday, falling to the lowest level since March of this year
.
China has slowed its purchases of US soybeans in recent months because Brazil offers cheaper soybeans for the new harvest, and US soybean prices have soared to their highest level in about eight and a half years
.
But the sharp drop in soybean prices this week has given the world's largest soybean importing country an opportunity to purchase to feed its world's largest pig herd later this year
.
.
But the sharp drop in soybean prices this week has given the world's largest soybean importing country an opportunity to purchase to feed its world's largest pig herd later this year
.
Concerns that the drought may reduce the harvest in the United States and further increase prices are also intensifying
.
This spring, China mainly purchased feed grains from the United States.
As China's domestic corn prices soared to record highs, China ordered record-breaking US corn and sorghum
.
.
This spring, China mainly purchased feed grains from the United States.
As China's domestic corn prices soared to record highs, China ordered record-breaking US corn and sorghum
.
The Chicago Board of Trade (CBOT) soybean futures rebounded from a multi-month low on the 18th.
After Reuters confirmed China's purchase, the November new crop of soybeans hit a daily high
.
As more purchases are counted in, the total sales of soybeans may increase.
Traders said that as many as 14 ships are being considered for purchase
.
After Reuters confirmed China's purchase, the November new crop of soybeans hit a daily high
.
As more purchases are counted in, the total sales of soybeans may increase.
Traders said that as many as 14 ships are being considered for purchase
.
