Faltering Chinese Soybean Demand Dents Brazil's Chances Of Trade War Bonanza
An unexpected drop in short-term Chinese purchases of Brazilian soybeans is denting exports of the oilseed from the South American nation, which just a few weeks ago looked poised to benefit from a Washington-Beijing trade war.
Chinese importers rushed to buy Brazilian beans after Beijing proposed a 25 percent tariff on U.S. cargoes on April 4, but short-term purchases have dried up since last week as the world's top importer grapples with weak demand at a time of abundant local supply, trade sources said.
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