China buys surprising volume of Brazilian soybeans in just 4 days

An unusual amount of Brazilian soybeans was purchased by China in the first few days of this week amid escalating trade tensions between the Asian giant and the United States, according to a report by Bloomberg. At least 40 loads of the grain were purchased, equivalent to more than 2.4 million tons – almost a third of the average volume that the Chinese usually process per month – with deliveries scheduled, for the most part, for May, June and July. The move comes amid the impossibility of trade between the world's two main economic powers, since Donald Trump set import tariffs of 145% on the Chinese, who responded this Friday (11) by raising rates on the Americans from 84% to 125%. The latest report on soybeans from the Center for Advanced Studies in Applied Economics (Cepea), from last week, had already detected the increase in international demand for Brazilian soybeans with the growth of negotiations on the spot market at the end of March. In March, with data computed up ...