China Turns Back to Brazilian Beans After Trade War Escalation
- For now, Chinese buyers don’t plan to cancel U.S. cargoes
- Soy premium at Brazilian ports jumped amid higher demand
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Chinese buyers are turning to Brazilian soybeans after another escalation of tensions between the U.S. and China.
Buyers from the Asian nation are bidding for Brazilian soy for shipment in August, September and October, according to people familiar with the matter who asked not to be identified because talks are private. China is seeking to buy from Brazil after President Donald Trump’s announcement Thursday on additional tariffs, a person with knowledge of the matter said.