8/6/26 China’s Bean Buying Frenzy Continues

08/06/2026 China’s Bean Buying Frenzy Continues Morning Market Talk There will not be a Morning Market Talk video this morning. On the Grains Corn, soybeans and wheat narrowly pivoted around unchanged during a quiet overnight session, as traders continued to monitor weather, geopolitical events and Chinese demand. Traders will also start to position themselves ahead of the Aug. 12 USDA reports. China’s state-owned firms booked at least another 13 cargoes of U.S. soybeans (roughly 800,000 MT) on Wednesday, Bloomberg reported, citing people familiar with the situation. That’s in line with the 12 to 15 cargoes export sources indicated. Expect another flurry of daily sales announcements. This is the second wave of big soybean purchases China’s state firms have made since late last week as they have taken advantage of the sharp price break in futures, pushing total volumes for 2026-27 to around 6 MMT – about one-quarter of its 25 MMT commitment via the trade deal. Crop Estimating Season Hitting Full Stride Private firms are releasing their corn and soybean yield and production forecasts ahead of USDA’s first survey-based estimates on Aug. 12, which will be based primarily on farmer surveys and satellite imagery. Wire services will release average estimates…