Chinese buyers purchase Brazilian soybeans as prices ease over US-China trade thaw

[modrepub]

Chinese soybean importers have stepped up purchases of Brazilian cargoes in recent days as South American prices eased on expectations a U.S.-China trade deal will lead to a resumption of U.S. sales to the world's largest soybean importer.

Buyers have booked 10 cargoes of Brazilian soybeans for December shipment and 10 for March-July with South American prices now quoted below offers being made for U.S. cargoes, three traders said on Monday.

https://www.yahoo.com/finance/news/chinese-buyers-purchase-brazilian-soybeans-104925351.html

So China “agrees” to purchase US soy beans. The market responds to the news that there is a potential expansion of soy beans available by dropping prices. China buys more South America soybeans at a lower price than before.

I conclude American farmers are not so smart. I’ll also bet these farmers will continue to vote Republican and support Trump.

[Irish_Dem]

1. China knows exactly what it is doing and how to play Trump like a fiddle.

ETA The US is no longer smart enough to be a world power.