China’s purchases of US soybeans have established a shipment programme stretching into early 2027, with bookings from both the US Gulf and Pacific Northwest supporting forthcoming vessel employment. Hellenic Shipping News reported that USDA figures showed Chinese commitments for the 2026/27 marketing year at 9.858 million tonnes through 10 September, comprising cargoes already shipped and sales awaiting shipment.
Purchases reported on 10 September amounted to about 1 million tonnes, including Sinograin bookings from US Gulf export terminals for shipment to China between December 2026 and February 2027. Earlier purchases, reported on 3 August, covered at least eight Gulf cargoes and six from the Pacific Northwest for October–November shipment. The outlet said those loading schedules place the associated shipping demand in the fourth quarter and early 2027, beyond the September improvement in departures.
Further buying by private Chinese crushers remains constrained by an additional 10% tariff and poor processing margins. According to assessments cited by Hellenic Shipping News, US soybeans scheduled for October–January shipment would have produced losses at early-September prices even without the extra duty. Removing that tariff alone would therefore provide little encouragement for private purchases at those prices, limiting scope for cargo demand to expand beyond the reported state buying.
Meanwhile, dry bulk freight markets showed a second week of contrasting performances between larger vessels and geared ships. The Baltic Dry Index ended at 3,370 points, down 137 over the week despite gaining 34 points on the final day. The Panamax index declined 156 points to 2,251, while its five-route timecharter average fell $1,400 to $20,262 a day. Grain freight rates also softened: US Gulf–Qingdao slipped $0.34 to $75.95 a tonne and Santos–Qingdao dropped $0.72 to $56.53 a tonne.
Smaller vessel earnings strengthened. The Supramax 11-route timecharter average increased $604 to $22,332 a day, while the Handysize seven-route average gained $851 to $17,776 a day. The strongest individual route movement was in the US Gulf Handysize market, where earnings rose $5,221 to $24,000 a day. By contrast, the two US Gulf Supramax routes recorded weekly declines.