China Grain Reserves Corporation: Recently Purchased Some Soybeans from the United States in Batches(I)

In order to implement the consensus reached by the heads of state of China and the United States, China Grain Storage Group recently purchased some soybeans from the United States in batches.

Reuters reported on December 11 that US President Trump said on Tuesday that China is repurchasing a large amount of US soybeans. Reuters also pointed out in the report that Chicago traders said they have not seen signs of such procurement recovery. At the press conference of the Ministry of Commerce held on December 13, Reuters reporters asked the spokesman for this. The Ministry of Commerce spokesperson Gao Feng replied, “Soybean has always been an important commodity for China to import into the United States. There is a huge market demand in China. (If China has begun to import soybeans from the United States) If there are further details, I will Further notice.”galvanized steel pipes

In order to appease the American farmers who were hit by the trade war, the US government promised to give agricultural farmers “agricultural assistance” in two rounds this summer. However, after half a year has passed, the US government does not seem to keep its promises. American farmers are likely to face the reality that the first round of aid is incomplete and the second round of aid is not.

The United States postpones the payment of farmer assistance. It is hoped that China will resume buying US soybeans.


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