China’s Sinograin returns to US soybean market as trade tensions ease
The renewed interest in the oilseed follows Beijing’s pledge to buy more US goods
Beijing/Singapore — China’s state grain stockpiler has returned this week to the US soybean market for the first time since early April, a sign Beijing is preparing to resume purchases as trade tensions between the world’s top two economies ease, two sources said. The renewed interest in the oilseed, used in animal feed, follows Beijing’s pledge at the weekend to buy more US goods from its top trading partner, including agricultural products. China made the pledge to avert a trade war that could damage the global economy. As the two sides stepped back from a full-blown trade war, Washington also neared a deal on Tuesday to lift its ban on US firms supplying Chinese telecoms equipment maker ZTE, and Beijing announced tariff cuts on car imports. State grains buyer Sinograin asked about US-origin soybean prices this week after being largely absent for the past six weeks, two sources with knowledge of the matter said. "Sinograin is in the market today asking US suppliers to make offers ...
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