Chinese buyers find tight U.S. sorghum supply after trade spat [Reuters]
Archer-Daniels-Midland Company (ADM)
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Source: Reuters
Chinese buyers find tight U.S. sorghum supply after trade spat | Reuters 4 Min Read CHICAGO (Reuters) - Chinese grain merchants seeking to resume purchases of U.S. sorghum after an anti-dumping probe by Beijing that had halted trade between the world’s biggest buyer and seller of the grain are now finding supplies tight, according to dealers. Importers in China have been calling U.S. traders to check on prices and availability since Beijing dropped its months-long investigation on May 17, but much of their would-be shipments of sorghum were sold to other countries along with U.S. ethanol makers during the trade spat, the dealers said. As part of the probe, Beijing had slapped a hefty deposit on U.S. sorghum imports in April, raising the costs for its buyers and sending benchmark prices spiraling lower. The decline of available supplies now shows how the trade dispute between the two biggest economies has created challenges for Chinese companies that want to purchase U.S. sorghum to fe
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ADM
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- 3/12/24 - Miss
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Sec Filings
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- ADM's page on the SEC website