Reported about 12 hours ago
China's state-owned COFCO has bought three U.S. soybean cargoes, marking the first purchases from this year's U.S. harvest ahead of the Trump-Xi summit. Despite ongoing trade tensions, this deal comes as U.S. farmers have suffered losses from diminished Chinese demand. Analysts suggest that significant demand for U.S. soybeans may not resume soon, as China has favored South American suppliers recently. However, China may still procure around 8 million tons of U.S. soybeans for strategic reserves into 2025.
Source: YAHOO