yikes....poor farmers
https://www.agweb.com/article/china-to-cancel-more-us-soy-shipments/
China to Cancel More US Soy Shipments
JULY 4, 2018 11:32 AM
By Bloomberg
(Bloomberg) -- Chinese companies are expected to cancel most of the remaining soybeans they have committed to buy from the U.S. in the year ending Aug. 31 once the extra tariff on U.S. imports takes effect from Friday.
China is the world’s top soybean buyer and has yet to take delivery of about 1.14 million metric tons of U.S. soybeans booked for the current marketing year, according to U.S. Department of Agriculture data. The USDA reported last week that China had resold some 123,000 tons of committed deliveries to Bangladesh and Iran.
Soybeans are a key flash-point in the worsening trade relations between the U.S. and China after Beijing said it would levy tariffs on imports starting July 6 in retaliation against a raft of duties imposed by the Trump administration. By focusing on U.S. agricultural produce, as well as raw materials such as coal, China is targeting the rural communities in states that voted for Trump in 2016.
https://www.agweb.com/article/china-to-cancel-more-us-soy-shipments/
China to Cancel More US Soy Shipments
JULY 4, 2018 11:32 AM
By Bloomberg
(Bloomberg) -- Chinese companies are expected to cancel most of the remaining soybeans they have committed to buy from the U.S. in the year ending Aug. 31 once the extra tariff on U.S. imports takes effect from Friday.
China is the world’s top soybean buyer and has yet to take delivery of about 1.14 million metric tons of U.S. soybeans booked for the current marketing year, according to U.S. Department of Agriculture data. The USDA reported last week that China had resold some 123,000 tons of committed deliveries to Bangladesh and Iran.
Soybeans are a key flash-point in the worsening trade relations between the U.S. and China after Beijing said it would levy tariffs on imports starting July 6 in retaliation against a raft of duties imposed by the Trump administration. By focusing on U.S. agricultural produce, as well as raw materials such as coal, China is targeting the rural communities in states that voted for Trump in 2016.
