Chinese imports of soybeans nearly doubled in November as the communist nation seeks a trade deal with the U.S., one of its biggest suppliers of the staple agricultural product, AP reported Thursday.
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China to Waive Tariffs for Some US Soybeans, Pork
BEIJING – China will waive import tariffs for some soybeans and pork shipments from the United States, China’s finance ministry said Friday, citing a decision by the country’s cabinet.
Read the full storyChina Buys U.S. Soybeans for First Time Since June
CHICAGO – The U.S. Department of Agriculture on Thursday 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.
Read the full storyTrump Just Secured Another Major Trade Victory
by Jason Hopkins The European Commission approved U.S. soybeans to be used in the production of biofuels, a decision that will fulfill President Donald Trump’s demand that the European Union buy more of the product. “Today’s decision is new proof that the European Union is delivering on our commitments,” EU Commission spokesman Margaritis Schinas said Tuesday. “[T]his means that as of today it will be easier for U.S. soybeans to enter the EU market.” The EU currently imports around 14 million tonnes of soybeans annually for animal feed. The U.S. already holds a commanding share of the market. However, the commission’s decision to allow U.S. soybeans to be used in the making of biofuels — an agriculture-based energy alternative to fossil fuels — is expected to dramatically increase demand in Europe. The approval follows months-long negotiations between the White House and EU leaders. Trump agreed in July not to slap tariffs on European vehicles in exchange for promises that EU member countries would purchase more U.S. natural gas and soybeans. That original agreement already helped pave the way for a 112 percent increase in U.S. soybean imports in the second half of 2018. “We agreed first of all to…
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