Chinese state-owned companies are said to have begun contracting three million tons of US soybeans and corn in a goodwill move to smoothen talks with the US on the Phase One Trade Agreement that has ended on December 31 last year.
At least five market sources confirmed on Thursday that there have been rumors of state-backed purchases. Two sources said this round of soybean buying volume is 1.5-1.7 million tons and the rest of the 3-million-tons target is allocated for corn.
This rumor coincided ...
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