U.S. Traders Need Convincing on China Soybean Resurrection
- Best time for bulk of soy sales to China has passed: Cargill
- Market is waiting for proof exports are back: Arizona Grain
This article is for subscribers only.
The prospect of China quickly resuming purchases of American soybeans has fueled a rally in Chicago futures. But leading U.S. grain traders and lenders are skeptical.
While a 90-day truce between the world’s two largest economies is seen as a good start, the wider trade dispute goes well beyond the humble bean. Sorting out issues including intellectual property rights and fair-trade practices may take longer to achieve, said William Secor, an economist at CoBank, a $125 billion lender to the agriculture industry.