China has ordered about 10 cargoes of soybeans from South America, easing concerns the world’s top food buyer will cancel purchases due to the spread of the coronavirus, according to people familiar with the matter.
Buyers picked up the supplies in Brazil and Argentina this week, said the people, who asked not to be identified because the information is private. The deals show the Asian nation currently has no plans to declare force majeure and cancel shipments it previously bought, the people said. Force majeure is a clause to remove liability for natural and unavoidable catastrophes.
