Sinograin plans second September soybean auction ahead of Trump-Xi summit
SOYB•Traders watch for signals on US soybean demand
China has now passed the halfway mark toward fulfilling its commitment to buy 25 million tons of US soybeans, a deal the White House said was reached last October.
Traders hope the leaders' summit this week will provide greater clarity on China's future demand for US soybeans.
Tuesday sale clears most of the soybeans offered
Sinograin also sold 62.4% of the 543,000 tons of imported soybeans offered at an auction on Tuesday, consultancy Mysteel said, marking its first large-scale sale since late August.
Between July and August, Sinograin conducted five auctions, each offering more than 200,000 tons of imported soybeans. Traders said the sales were intended to free up storage capacity for expected arrivals of US soybeans.
Sinograin announces second large-scale soybean auction in September
BEIJING, Sept. 22 (Reuters) - China's state stockpiler Sinograin on Tuesday announced its second large-scale auction of imported soybeans in September, just days ahead of a summit in Washington between US President Donald Trump and Chinese President Xi Jinping.
The auction, set for 1:30 p.m. CST (0530 GMT) next Monday, will include 514,000 metric tons of soybeans produced between 2022 and 2024, the National Grain Trade Centre said in a notice.
