US Soybean Shipments To China Fall To Ten-Month Low
US soybean exports to China fell to their lowest in nearly ten months as the coronavirus outbreak has raised concerns about demand from the world's top buyer of the oilseed, the US Agriculture Department said on Thursday.
A weekly government report showed that exporters shipped just 69,009 tonnes of soybeans, about one cargo, to China in the week ended 6 February. That was the lowest since US exporters shipped 67,113 tonnes in the week ended 18 April 2019.
US traders have been waiting for a pick-up in exports to China since Washington and Beijing inked a trade deal in mid-January.
But US sales have been slow despite the easing of tensions in the tariff fight, with China booking the bulk of its soybean purchases from South America as harvest begins in key exporters Brazil and Argentina.