Reported about 10 hours ago
China has procured at least 10 cargoes of Argentine soybeans following Argentina's recent cancellation of grain export taxes, placing U.S. farmers at a disadvantage as they face market barriers and declining prices. The Chinese market has now shifted towards South American supplies, exacerbated by ongoing trade tensions between the U.S. and China, with U.S. soybean futures already near five-year lows. This move signals a significant reduction in U.S. soybean sales to China, traditionally the leading consumer of American soybeans.
Source: YAHOO