China Back Buying More U.S. Soy Just Days After Last Spree
- Cofco and Sinograin buy several million tons of American soy
- Purchases are a sign China is working to ease trade tensions
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China’s back buying more U.S. soybeans just days after the last round of purchases by the world’s top importer.
State-run buyer Cofco Corp. bought almost 1 million metric tons of the oilseed, while Sinograin purchased more than a million tons, the two companies said in separate statements on Tuesday. That follows an announcement on Saturday that they had purchased 2 million tons from America after officials from the two countries met in Washington for trade negotiations.