10/14/26 China Buys More U.S. Soybeans, Big Corn Purchases Unlikely

10/14/2026 Click Above to Watch the Morning Market Talk Video China Buys More U.S. Soybeans, Big Corn Purchases Unlikely On the Grains Soybeans firmed overnight on support from Chinese demand news. Corn and wheat both favored the downside. Reuters reported Chinese state-owned firms purchased eight to 10 cargoes (roughly 520,000 to 650,000 MT) of U.S. soybeans this week. Export sources said most of the soybeans were booked for shipment from the PNW in January. Daily sales announcements will be watched for confirmation of the purchases. Meanwhile, an official with China’s state-owned Cofco says China’s corn production expanded as much as 8 MMT this year and that U.S. corn imports are not yet economically viable for commercial firms even with a reduced tariff rate. He expects China to import only 3.5 MMT of corn in 2026-27, which is 2.5 MMT less than the ag ministry forecasts, including less than 1 MMT of U.S. corn. As we’ve noted, there are other ag commodities that China needs more than corn that will get it to the $17 billion in purchases (will be prorated to an unspecified amount for this year) beyond soybeans. That doesn’t mean China won’t buy some U.S. corn, but large…