Skip to content
Subscriber Only

Virus-Stricken China Is Still Buying Soy From South America

  • Chinese firms bought about 10 soy cargoes in Brazil, Argentina
  • Deals signal that China has no plans to declare force majeure
The Wuhan International Conference and Exhibition Center has been converted into a temporary hospital.
The Wuhan International Conference and Exhibition Center has been converted into a temporary hospital.Source: Getty Images
Updated on

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.