China Is Buying American Beans Again, And American And Chinese Officials Are Holding Trade Talks In Beijing This Week
Chicago, January 7 - Two traders who understand the deal said that on Monday, Chinese importers purchased US soybeans for the third time in the past month, and officials of the two countries began to agree on the trade war on December 1st. The first face-to-face negotiation in 90 days.
Chinese state-owned companies bought at least three ships and about 180,000 tons of US soybeans on Monday morning, two traders said. One of the traders said that the total is close to 15 cargo ships, about 900,000 tons.
The two traders said that these soybean shipments will be shipped from January to March, mainly from ports in the northwestern Pacific coast, and a small amount will be exported from ports in the US Gulf of Mexico.
Officials from the two countries began talks in Beijing today, and the planned talks will continue until Tuesday. The Chinese Foreign Ministry said on Monday that China has "sincerity" to resolve trade frictions with the United States.
The US soybean futures on the Chicago Board of Trade (CBOT) rose for the fourth consecutive trading day on Monday and hit a three-week high, as news of China's repurchase offsets concerns about ample supply of global soybeans.
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