WASHINGTON, D.C. (RFD News) — China is buying more U.S. soybeans ahead of a possible meeting between President Donald Trump and Chinese President Xi Jinping later this month.
USDA recently reported another 272,000 metric tons of U.S. soybeans sold to China for the current marketing year, along with 206,500 metric tons sold to unknown destinations.
China has recently purchased about 1 million metric tons of U.S. soybeans as Brazilian supplies tighten. However, a 10% Chinese tariff continues to make U.S. soybeans more expensive for private buyers.
Analysts say reducing the tariff could bring additional Chinese demand during the U.S. harvest.
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