Aug 3 (Reuters) - The U.S. Department of Agriculture on Monday, Aug. 3, confirmed Chinese purchases of nearly half a million tons of soybeans, after traders said earlier that Chinese state trading companies had bought 14-16 cargoes on Friday totalling 1 million tons. ADVERTISEMENTBuyers were taking advantage of lower prices in a flurry of purchases ahead of President Xi Jinping's expected U.S. visit next month. More soybean news:The White House announced in October that China had agreed to buy 25 million tons of U.S. soybeans annually until the end of 2028. Before Friday's purchases, China had bought slightly more than 4 million tons this year, reflecting China's strongest pace of buying of U.S. farmers' upcoming harvest in four years, according to USDA data. In late July, U.S. President Donald Trump said his Chinese counterpart Xi would visit the country on Sept. 24.