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China COFCO buys millions of tons of American soybeans



The trade war in tit-forat was enough to bring the entire year's Chinese soybean exports from the US to its lowest level since 2008, with shipments down by half of 16.6 million tonnes.

But the two countries agreed on a 90-day ceasefire in early January, so China could resume buying.

China offered to buy another 5 million tons of US soybeans in the last round of negotiations, a white market analyst, however, warned that US exports to China were unable to return to previous levels, even though the two countries resolved their trade dispute with China expected to turn more to South America and other vendors.

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