The Phase 1 trade deal between the U.S. and China has yet to be signed. Yet, China is buying some big soybean purchases.
In November, China's imports of soybeans surged to a 20 month high following the announcement of a trade deal.
Soybean imports more than doubled the October pace and the highest since March of 2018. That’s when trade tensions were starting to ratchet up.
So far, China’s total commitments this marketing year is at 10.5 million tons. It was only 2 million tons a year ago.