Market News & Headlines >> China Said to Buy More U.S. Soybeans
Chinese buyers reportedly made their third large purchase of U.S. soybeans in the past month on Monday as officials from the two countries kicked off a new round of trade talks in Beijing.
Chinese state-owned firms bought at least three cargoes of U.S. soybeans on Monday morning, or about 180,000 metric tons, two traders with knowledge of the deals told Reuters News Service. One of them said the total was closer to 15 cargoes, or about 900,000 metric tons.
The soybeans will be shipped mostly from terminals in the Pacific Northwest from January through March, with a smaller volume to be exported from U.S. Gulf Coast terminals, the traders told Reuters.
The talks in Beijing are the first round of face-to-face talks between U.S. and Chinese officials since President Trump and China’s President Xi Jinping met in Argentina and agreed to a 90-day trade truce on Dec. 1. The U.S. delegation in Beijing is being led by Deputy U.S. Trade Representative Jeffery Gerrish.