China Buys US Soybeans for First Time Since June

China Buys US Soybeans for First Time Since June
Soybeans fall into a bin as a trailer is filled at a farm in Buda, Illinois, U.S. on July 6, 2018. Daniel Acker/Reuters
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CHICAGO— The U.S. Department of Agriculture on Aug. 1 confirmed private sales to China of 68,000 tonnes of soybeans for the 2019/20 marketing year, the first such purchase by a private buyer since the trade war between the world’s two largest economies broke out more than a year ago.

It was the first new soybean purchase by China since a 544,000-tonne sale was announced in late June, and the first since Beijing offered to exempt five private crushers in the country from 25-percent import tariffs on U.S. beans arriving by the end of the year.