U.S. soybeans remain "biding time" despite commitments from Beijing

After the trade agreement resumed at the end of October, China has only imported a limited amount of U.S. soybeans, causing concern among the American farming community as large-scale orders have not yet appeared. China, the world's largest consumer of soybeans, had stopped importing the commodity from the U.S. when trade tensions escalated. U.S. President Donald Trump had previously received a commitment to resume imports from Chinese President Xi Jinping during their meeting on October 30 in South Korea. Jim Sutter, CEO of the U.S. Soybean Export Council, told Nikkei: "This is a very unusual situation." He acknowledged that China's pace of resuming purchases is slow but believes more time is needed for them to implement the agreements made. Rich Nelson, Director of Strategy at Allendale, a futures trading company in Illinois, noted that traders and farmers are beginning to worry about whether China will fulfill its purchase commitments. Beijing has used soybeans as a bargaining ...