China resumes buying soybeans from the US ahead of meeting between Xi Jinping and Trump

The Chinese state-owned Cofco has made the purchase of three shipments of soybeans from the United States, ending a gap of almost five months without acquisitions from the North American country. The shipments, which total around 180,000 tons and are scheduled for delivery between December and January, mark the first Chinese purchases of the new American crop. According to the consultancy Safras & Mercado, the move is positive from a symbolic point of view, indicating a possible commercial rapprochement between China and the United States. Despite this, the volumes are still reduced, and the market remains cautious about the intensity of the resumption in the coming weeks. “The volumes are not very relevant in terms of quantity, but the signaling is good. The market observes a possible resumption by China in the American market,” evaluates Safras & Mercado. The move occurs on the eve of the meeting between Presidents Donald Trump and Xi Jinping, scheduled for this Thursday (30), ...