China Is Snapping Up Cheap Brazilian Soybeans as Trump Returns
- Buyers are loading up on supplies from the coming harvest
- Latest purchases highlight China’s reliance on Brazilian soy
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Chinese buyers are loading up on Brazilian soybeans from the coming harvest, taking advantage of attractive prices in a move that will also help safeguard supply, at a time when concerns about worsening trade tensions with the US are running high.
The South American nation is expected to collect its biggest-ever crop, making supplies abundant and helping Chinese traders lock in good margins. Active purchases of Brazilian beans mean at least half of Chinese demand for February-April has now been covered, as well as about 20% for May to June, according to estimates from traders who asked not to be identified.