Todd Bishop
Reuters quoted two people familiar with the matter as saying that Chinese companies purchased 600,000 tons of US soybeans on September 30 and will ship them between November and January 2020. This week, they will provide importers with a tariff limit of 2 million tons. a part.
According to informed sources, soybeans from 2 to 10 ships have been sold. One of them said that buyers include Chinese private and state-owned enterprises. Stimulated by the news, the price of US soybeans on the Chicago Board of Trade rose by about 1.5%.
A new round of high-level negotiations between China and the United States is expected to be held next week. In the past, Beijing has repeatedly released goodwill from the United States on the eve of negotiations. After the China-US vice ministerial negotiations ended, Chinese importers booked more than 100 tons of US soybeans last week, the largest purchase since June.
Earlier in China, many importers were allowed to purchase US soybeans and exempted from additional tariffs.
There are reports that US President Trump is considering delisting Chinese companies listed in the US. China warned that the relevant practices would lead to an escalation of trade tensions between China and the United States and undermine the stability of the international market.
