Agreements for the purchase of 5.1 million to meet Chinese importers. Sojab.

A delegation of Chinese soybean importers has signed on Friday in Des Moines, Iowa, agreements for sale of 5.1 million tons of soya beans ($2.1 billion). This reports the U.S. soybean Export Council.
7 of the top-10-Sojabohenimporteure China were among the buyers. These include among others the State-owned company COFCO and Sinograin and sunshine group, a private company. Sellers were major trading houses such as ADM, Bunge and Cargill.
Details of the transactions were not published. For some purchases, it is believed that it is framework agreements, where the conditions are finalized at a later date.
Some of the agreements could be reported in the daily reporting system of the U.S. Department of agriculture. US exporters are required to report exports that are greater than 100,000 tons (on the day), through the national reporting system.
A comparable event led to soybean exports in a volume of almost 4 million tonnes and a value of $ 1.8 billion in August in Indianapolis. Last year, when contracts with a volume of 13,18 million tonnes of soybeans and US$ 5.3 billion were signed in Des Moines, export messages from 1.26 million tons through the daily reporting system followed in the next two days.
The U.S. Department of Agriculture estimates the import demand of China's 2016/17 to 86 million tons of soybeans in the season. 30 million tonnes of which could be delivered from the United States.

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