China’s Soybean Deal Signals Early Jump Into 2021 U.S. Market
- Oilseed imports by China have surged as hog herd rebounds
- U.S. data shows sale of 126,000 tons for next season
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China, the world’s top soybean importer, is getting an early jump on purchases from the U.S. for next year.
The Asian nation bought 126,000 metric tons for shipping after Sept. 1, the start of the next marketing year, U.S. Department of Agriculture data showed Thursday. That’s the earliest for a forward purchase since 2016 and confirms a Bloomberg report from Dec. 7.