China Deciding What to Do with Unshipped U.S. Soybean Purchases Now that trade negotiations with the U.S. have broken down, the Chinese government is apparently now deciding what to do with the more than 7 MMT of unshipped soybeans it has purchased from the U.S. Unconfirmed reports indicate China’s National Development and Reform Committee is the body making the decision, which will have a significant impact on the U.S. soybean sector. Rumors indicate the three options being considered are cancelling cargoes, shifting the purchases to MY 2019/20 or importing the soybeans for storage in the national reserve. Most, if not all, of the outstanding unshipped soybeans were purchased by either COFCO or Sinograin, both state-owned companies...
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Illuminating the value of technical research
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