Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: United States
A combine, silhouetted in the sunset, dumps soybeans into a semi tractor-trailer in a dusty soybean field BryanE/iStock/GettyImagesPlus

Chinese buyers back in market

Soybean processors in China granted waivers

By Bloomberg News

Chinese buyers are back in the market for American soybeans after crushers in the Asian nation were granted a new round of tariff waivers, according to people familiar with the matter.

Soybean processors in China were granted permission to buy another 10 million metric tons of U.S. supplies without retaliatory duties, said the people, who asked not to be identified because the information is private. On Tuesday, buyers were seeking cargoes for late this year and early next, the people said.

The bids mark a return to the American market after Chinese buyers recently picked up cargoes in Brazil, where prices have been more attractive to Asian crushers. This would be a third round of waivers, with about 5 million tons granted previously.

China’s Ministry of Commerce didn’t immediately respond to a fax seeking comment outside of normal business hours.

To contact Bloomberg News staff for this story:
Niu Shuping in Beijing at nshuping@bloomberg.net;
Alfred Cang in Singapore at acang@bloomberg.net;
Isis Almeida in Chicago at ialmeida3@bloomberg.net
To contact the editors responsible for this story:
James Attwood
© 2019 Bloomberg L.P.
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish