US Edition‘Pleasantly Surprised’ Already? As Trump Hails Xi After Talks, China Reportedly Orders $300 Million Worth of US Soybeans
China pledged to buy 12 million metric tonnes of US soybeans this year but has so far purchased less than expected, following a Trump-Xi call to boost trade.
- On Monday, President Donald Trump said Chinese President Xi Jinping `more or less agreed` to increase U.S. goods purchases during a call following their South Korea meeting three weeks ago.
- Earlier this year Beijing halted U.S. soybean imports, sending sales to a two-decade low, and last month it announced resuming purchases while halting expanded rare-earth export curbs amid detente.
- USDA data show private export sales of 792,000; 330,000; 462,000; and 123,000 metric tons on recent dates, while Brazil and Argentina now supply more than half of China's soybean imports.
- The deal matters because President Trump said `We have done a good, and very important, deal for our great farmers’ and highlighted soybeans' importance as a critical U.S. export to China.
- Economists warn China’s purchase commitments remain uncertain, and Tanner Ehmke, lead economist at CoBank, said `We are still not even close to what has been advertised from the U.S.` as U.S. soybean exporters face longer-term market competition.
11 Articles
11 Articles
‘Pleasantly surprised’ already? As Trump hails Xi after talks, China reportedly orders $300 million worth of US soybeans
China's reported purchase of US soybeans took place despite Brazil offering more competitive rates, and Beijing's decision to pay more could be the strongest sign yet of a thaw in ties between the two global superpowers following talks between Trump and Xi.
China buys at least 10 US soybean cargoes in new deals after Trump-Xi call, sources say
China has purchased at least ten shipments of U.S. soybeans valued at approximately $300 million. These deals were finalized after a phone call between Presidents Trump and Xi. This buying spree follows a recent improvement in U.S.-China trade relations. The purchases are scheduled for January shipment. This activity comes despite U.S. soybeans being priced higher than Brazilian supplies.
Exclusive-China buys at least 10 US soybean cargoes in new deals after Trump-Xi call, sources say
By Ella Cao and Naveen Thukral BEIJING/SINGAPORE (Reuters) -China bought at least 10 cargoes of U.S. soybeans worth around $300 million in contracts signed since Tuesday, two traders with knowledge of the deals said, a day after the presidents of both countries spoke on the phone. The purchases of the unusually large volumes extend a surge in Chinese buying after the recent thaw in U.S.-China trade relations. U.S. President Donald Trump touted r…
‘It’s not enough’: Shanghai residents doubt Trump-Xi call will improve relations
Shanghai residents voiced doubts that U.S.-China relations would improve following a phone call between President Trump and Chinese President Xi that was not previously announced by either country. The call came weeks after the two leaders met in South Korea, where they agreed to a framework for a trade deal that has yet to be finalized.
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
