China Securing Brazilian Soy With U.S. Trade Tensions Rising
- Nation bought more than 10 cargoes of Brazilian soy this week
- U.S. said Hong Kong’s autonomy is gone, fueling China tensions
Photographer: Patricia Monteiro/Bloomberg
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China is buying Brazilian soybeans in a sign the Asian nation may be looking to secure supplies as trade tensions with the U.S. rise.
The world’s top soybean importer purchased more than 10 cargoes in Brazil this week, said people familiar with the matter, who asked not to be named because the transactions are private. While China bid for American soy on Tuesday, state-run buyers were absent from the market Wednesday, the people said.