Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
China Hoards American Chips Amid Fears of Tech Cutoff
U.S. May Reconsider Abandoned Plan to Ban Huawei From Its Banking System: Report
Blackstone CEO Stephen Schwarzman Opens Up About China
LATEST
China’s Software Sector Profits Up Nearly 12% in First 10 Months
Chinese-Backed DNA Testing Company Suspends U.S. Business, Lays Off Staff
New Installations of Solar Power Plunge as Subsidies Fade
Nio’s Growth Stagnates as Foreign Adversaries Expand in China
SAIC Taps India Electric Car Market With MG Model
Xiaomi Targets Indian Borrowers with New Online Lending Service
ZTE Partners With Chinese Plane-Maker for In-Flight 5G Internet Project
Chinese Chip Design Firm Goodix Given Nod to Acquire NXP’s Voice and Audio Solutions Business
Former Graft Buster Falls Under Graft Probe
Huawei Sues U.S. Telecoms Regulator Over Sales Ban
Chinese Video Streaming Service iQiyi Eyes Subscribers Abroad and Mulls Price Hikes at Home
ByteDance-Backed App TikTok is Creating Stars and Destroying Lives in India
Nintendo Partners With Tencent to Launch Switch in China
China Cracks Down on 100 Apps for Illegal Collection of Personal Data
Huawei Sued in U.K. by InterDigital Over Patent Royalties
U.S. May Reconsider Abandoned Plan to Ban Huawei From Its Banking System: Report
Alibaba Given Green Light to Sell an Additional 75 Million Shares for $1.68 billion
China’s Major Internet Firms See 10-Month Revenue Grow 21% Year-on-Year
Shares in Tencent-Backed News Aggregator Plunge After Unconvincing Q3 Report
Why Easing Monetary Policy May Not Boost Lending

By Bloomberg / Dec 13, 2018 10:39 AM / Business & Tech

Soybeans are loaded into a grain cart during harvest. Photo: Bloomberg

Soybeans are loaded into a grain cart during harvest. Photo: Bloomberg

The soybean market may have just gotten what it’s been waiting for: signs of larger purchases of U.S. supplies from China.

Chinese importers have purchased 1.5 million to 2 million metric tons of American soy over the last 24 hours, the U.S. Soybean Export Council said, citing industry sources. The shipments are expected to occur sometime during the first quarter, Jim Sutter, chief executive officer of the council, confirmed by phone and email. Most of the supplies will be shipped from terminals in the Pacific Northwest.

The council “is encouraged by the news that buyers from China have made purchases of U.S. soybeans,” the group said in an email. “This is obviously positive news for our growers.”

China is making its first sizable purchase of U.S. soy since the two countries began a series of tit-for-tat tariffs. Soybean futures had stayed relatively quiet in the last few days as traders awaited confirmation that big deals were happening. Donald Trump said in an Oval Office interview with Reuters Tuesday that he’d heard China is “buying tremendous amounts of soybeans” from American suppliers.

Related: Chinese State Newspapers Argue Over Genetically Modified Soybeans

Share this article
Open WeChat and scan the QR code