06/17/2026 China Buys U.S. New Crop Soybeans

06/17/2026 Click Above to Watch the Morning Market Talk Video China Buys U.S. New Crop Soybeans On the Grains Soybeans extended Tuesday’s corrective gains overnight. Corn, soymeal and the wheat markets also traded higher overnight, while chopped around unchanged with a downside bias. Strength in the soybean market is tied to Chinese demand. A physical trader confirmed to us China bought at least two cargoes of new-crop U.S. soybeans on Tuesday – there may have been more business he wasn’t aware of. China’s buying of U.S. soybeans makes sense on several fronts: 1) China needs to book U.S. soybeans to meet its trade deal commitments; 2) After the price plunge over the past month, U.S. soybean export prices are competitive with Brazilian supplies, especially for fall delivery. 3) China is a shrewd marketer and will take advantage of pricing opportunities; and 4) China typically imports the heaviest amount of U.S. soybeans during fall, when new-crop supplies become available. Now markets wait to see if Chinese soybean purchases are confirmed with a daily sales announcement from USDA over the next several days. It’s possible any sales announcement could be to unknown destinations. It’s also possible purchases could have been under the…