The U.S. Department of Agriculture on Thursday confirmed a private Chinese compa...
CHICAGO - The U.S. Department of Agriculture on Thursday confirmed a private Chinese company bought 68,000 tonnes of soybeans in the week ended July 25, the first soybean purchase since Beijing offered to exempt five crushers from import tariffs imposed more than a year ago as part of a U.S.-China trade dispute.
The private purchase was also the first new soybean purchase by China since a 544,000-tonne sale to a government buyer was announced in late June. China has bought about 14.3 million tonnes of U.S. soybeans in the 2018/19 season which began last September, the least in 11 years, and more than 4 million tonnes of those purchases have yet to be shipped, USDA data showed.
The tariff made imports from rival suppliers like Brazil and Argentina far more attractive to private crushers.
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