China purchases additional 500,000 tons of U.S. soybeans.

milk in a glass

Photo by on

According to CNBC – following the meeting between President Trump and President Jinping Xi earlier this month, Chinese state-owned companies purchased 500,000 tons of U.S. soybeans valued at $180 million.

While the purchase does help, CNBC reports that American farmers have only sold 8.2 million metric tons of soybeans to China this year, down from 21.4 million metric tons during the same period last year.

In addition to U.S. soybean farmers being impacted by the trade war, China is also facing a shortage of soybean supplies and it was reported that in September, Chinese officials considered cutting the soy ration for hogs.

Check back for more news as they become available.

Leave a Reply

%d bloggers like this: