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China Is Already Canceling U.S. Soybean Orders

Chinese tariffs haven’t been implemented yet but traders don’t seem to be waiting

China has yet to implement tariffs on imports of U.S. soybeans, but the country’s traders are already canceling American shipments, according to the latest trade data. Weekly numbers released Thursday by the U.S. Department of Agriculture show China canceled import commitments in the week ending April 26, making it the third straight week they have fallen. The data reinforce comments from the chief executive officer of grain-trading giant Bunge Ltd., who said Wednesday that China has essentially stopped buying U.S. supplies.

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