Chinese importers scoop up Brazilian soybeans amid U.S. trade uncertainty [Reuters]
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Source: Reuters
Chinese importers scoop up Brazilian soybeans amid U.S. trade uncertainty BEIJING (Reuters) - Chinese buyers scooped up at least 20 cargoes of Brazilian soybeans last week due to uncertainty over a trade deal with the United States that sent them rushing to lock in supplies, traders said on Monday. Importers also jumped on the new crop Brazilian beans because of attractive margins, said two traders who declined to be identified. The purchases were for delivery when the new harvest hits the market early next year, they said. Some U.S. and Argentinian cargoes were also booked last week, one of the traders said, with total purchases of about 30 cargoes. Chinese buyers have bought significantly fewer soybeans from their second largest supplier, the United States, this year, due to high tariffs on imports, which are expected to be lifted if the two sides agree to the first phase of a trade deal. Completion of the first phase risks sliding into next year, Reuters reported last week, leaving
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