China Steps Up U.S. Soybean Buying With Million-Ton Purchase
- Nation bought more than 20 U.S. cargoes in the past two weeks
- Purchases were made with tariff waivers previously issued
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China is stepping up purchases of soybeans from the U.S. as Brazilian sales start to wane and the Asian nation seeks to meet its pledges under the trade deal with Washington, according to people familiar with the matter.
State-run buyers have purchased more than 20 cargoes, or over 1 million metric tons, of American soybeans in the past two weeks, said the people, who asked not to be identified because the information is private. The beans were bought using tariff waivers previously issued, the people said. Purchases of 136,000 tons reported by the U.S. government Tuesday were probably made Monday.