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Stock impact report

China Ramps Up Buying of US Soybeans After Brief Pause in Trade [Yahoo! Finance Canada]

CHS Inc - 8% Cumulative Redeemable Preferred Stock (CHSCP) 
Most Read from Bloomberg The renewed buying comes after purchases briefly stalled, and has reignited market optimism that soybean trade between the two agricultural powerhouses, worth more than $12 billion last year, is being revived. Chicago soybeans rallied as much as 3.2% on Monday following news of the purchases, reported earlier by brokerage AgResource Co. Prices edged down during Asian trading hours on Tuesday. Cofco did not immediately reply to a request for comment. Before the pivotal meeting between Chinese leader Xi Jinping and US President Donald Trump that resulted in a trade truce between the world's biggest economies in late October, China had frozen its purchases of American soybeans and turned instead to South American suppliers. Analysts say Beijing has enough stockpiles, which might limit how much it may need from Washington. Washington has said Beijing pledged to buy 12 million tons of US soybeans by end of this year, followed by 25 million tons annually Show less Read more
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