China Buys US Soybeans After Beijing Issues New Tariff Waivers: Traders

China Buys US Soybeans After Beijing Issues New Tariff Waivers: Traders
Soybeans in a field on Hodgen Farm in Roachdale, Indiana, U.S. on Nov. 8, 2019. Bryan Woolston/Reuters
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CHICAGO—Chinese soy importers on Dec. 9 bought at least five bulk cargo shipments of U.S. soybeans, or about 300,000 tonnes, for shipment in January and February after Beijing offered the buyers at least 1 million tonnes in new tariff waivers, U.S. exporters said.

The fresh allotment of tariff waivers, which exempts importers from 30 percent tariffs on U.S. shipments, comes after buyers used up nearly all of the 10 million tonnes in waivers awarded by Beijing in October, the traders said.