11/26/2025 China Buys More Soybeans: Confirmation Awaited

11/26/2025 Click Above to Watch the Morning Market Talk Video China Buys More Soybeans: Confirmation Awaited On the Grains Grain and soy complex futures traded narrowly in quiet overnight price action. Traders await confirmation of any Chinese soybean purchases and news of a potential trade deal between Russia and Ukraine. China made its most active purchases of U.S. soybeans after President Trump held a phone call with Chinese leader Xi Jinping earlier this week, Reuters reported, citing two traders with knowledge of the deals. One trader said China bought about 12 cargoes, while another estimated the volume at 10–15. That would put purchases in the 600,000 MT (22 million bu.) to 975,000 MT (36 million bu.) range, depending on actual number and size of cargoes. To this point, China has booked 1.939 MMT of U.S. soybeans for 2025-26. USDA should confirm this business via daily sales today or Friday, though some of it could get pushed into next week due to Thanksgiving. Grain Impacts If Russia/Ukraine Peace Deal Ukraine and Russia are reportedly drawing closer to a peace agreement that would end the nearly four-year conflict, which has impacted energy, metals and agricultural trade flows. Impact to oil/gas would be…