China Buys $67 Million Worth of U.S. Soybeans as Trade War Eases
By Chuck Abbott, Successful Farming
Agriculture.com - 9/16/2019
Ahead of working-level U.S.-Chinese trade talks this week, China bought $67 million worth of U.S. soybeans and said it would exempt American pork and soy from additional tariffs taking effect this month. President Trump said he would “rather get the whole deal done” but could be open to a mini-deal with China.
Both nations took conciliatory steps last week, with Trump delaying for two weeks, until Oct. 15, the imposition of additional tariffs on Chinese goods and Beijing excluding a limited number of U.S. products, including pork and soybeans, from recently applied tariffs. Soybeans and pork would still face hefty import duties.
The USDA said on Friday that exporters reported the sale of 204,000 tonnes of U.S. soybeans to China. The sale was worth $67 million at current prices. There was chatter among traders that additional sales were being booked.
Working-level meetings this week between U.S. and Chinese officials would build toward ministerial meetings in October...