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Importers snap up cheap U.S. soybeans as China stops buying

Reuters  |  CHICAGO 

By Karl PlumeCHICAGO (Reuters) - China's retaliatory tariffs on U.S. soybeans, threatened for weeks and enacted Friday, have driven down prices and triggered a wave of bargain shopping by importers in other countries stocking up on cheap U.S. supplies, according to a Reuters analysis of government data.Chinese buyers have so far this year accounted for just 17 percent of all advanced purchases of the fall U.S. soybean harvest - down from an average of 60 percent over the past decade, the analysis found. They are instead loading up on Brazilian soybeans, which now sell at a premium of up to ...

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First Published: Fri, July 13 2018. 01:52 IST
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