A Chinese company has signed agricultural agreements with leading traders worth $5.2 billion, which supports soybean prices.
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The Chinese supplier and developer Xiamen announced on Thursday the signing of agricultural agreements worth over $5.2 billion with seven agribusinesses and trading houses, including Cargill and Louis Dreyfus Company in Shanghai. The agreements involve corn, soybeans, cotton, and other commodities. The agreement with the American trader Cargill involves supplies for Xiamen C&D's animal feed and food processing plants. It is not yet clear whether the agreement will include soybeans, a commodity that has been the focus of attention after Washington announced that China has resumed purchases of U.S. soybeans within the framework of the trade truce reached in October. The agreement with Louis Dreyfus Company worth $2.5 billion will contribute to the creation of a stable global agricultural supply network. Additionally, Xiamen C&D signed agreements with the Swiss company Syngenta and the American CHS, as well as Olam, BTG Pactual, and Cutrale. The signing of the agreements indicates ...