China’s Soy Purchases Hit 12 Million Tons to Meet US Pledge

China has purchased roughly 12 million tons of US soybeans in the last three months, clearing a closely watched trade hurdle and meeting a key pledge outlined by the Trump administration in November.

The world’s top consumer had been hovering close to the target for days and has now booked enough cargoes to meet it, according to traders familiar with the shipments. They asked not to be named as they are not authorized to speak with the media.