China makes biggest US soybean purchases since June

Privately run Chinese firms on Thursday bought at least 10 boatloads of US soybeans on Thursday, the nation’s most significant purchases since at least June, traders said, ahead of high-level talks next month aimed at ending a bilateral trade war that has lasted more than a year.

The soybean purchases, which at more than 600,000 tonnes were the largest by Chinese private importers in more than a year, are scheduled for shipment from US Pacific Northwest export terminals from next month to December, two traders with knowledge of the deals said.

The purchases were another indication that trade tensions between Washington and Beijing could be easing, after hitting a low last month when China suspended all US farm product purchases in response to threats by US President Donald Trump to impose more tariffs on Chinese goods.

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