TRADE UPDATE: Two Days, Two Buys from China of U.S. Soybeans

01:50PM Feb 05, 2019
Trade is always a contentious issue between the world's two largest economies, the US and China.
( MGN )

Chinese leaders said the country would be buying more U.S. soybeans, and now we have proof it did. The USDA reported a buy on Tuesday of 2,603,000 mt that is scheduled to be delivered to China.  Another 274,000 mt is scheduled for delivery to unknown destinations.  This is in addition to Monday's buy of about 612,000 mt.  

After two days of talks last week, China's lead trade negotiator Vice Premier Liu He met with President Trump and the other U.S. negotiators in the Oval Office.  He revealed China would buy another 5,000,000 mt of U.S. soybeans.  However, a company that tracks vessels being loaded and unloaded says China's shipments fall well short of the 10,000,000 mt mark and commodity markets so far have seemed unimpressed by the buys.

Related articles: Is China Really Buying 10 MMT of U.S. Soybeans?

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