USDA confirms China purchase of 204,000 tonnes of U.S. soybeans
The U.S. Agriculture Department confirmed on Friday that private exporters bought 204,000 tonnes of U.S. soybeans destined for China.
The USDA announcement came a day after two traders with knowledge of the deals said that Chinese private buyers have purchased more than 600,000 tonnes of U.S. soybeans for shipment from October to December. Those are the largest deals by Chinese private importers in more than a year.
On Thursday, Chicago Board of Trade soybean futures surged 3.3 percent to a one-month high on hopes the deals signify a thaw in the trade war between the world's two largest economies. The benchmark CBOT November soybean futures contract gained another 3 cents to $8.98-1/2 a bushel in early trading on Friday.
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The USDA announcement came a day after two traders with knowledge of the deals said that Chinese private buyers have purchased more than 600,000 tonnes of U.S. soybeans for shipment from October to December. Those are the largest deals by Chinese private importers in more than a year.
On Thursday, Chicago Board of Trade soybean futures surged 3.3 percent to a one-month high on hopes the deals signify a thaw in the trade war between the world's two largest economies. The benchmark CBOT November soybean futures contract gained another 3 cents to $8.98-1/2 a bushel in early trading on Friday.
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