China's Soybean Buy Promise Falls Short

New data from the Agriculture Department casts doubt on Chinas plans to buy millions of bushels of U.S. soybeans, despite Trump administrations claims. Only two purchases of 332,000 metric tons since the summit, far short of the agreed 12 million metric tons by January and 25 million metric tons annually. China has little incentive due to ample supply from South America and remaining tariffs. Soybean prices dropped sharply by 23 cents to $11.24 per bushel, reflecting market shock at lack of Chinese demand. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.