China buys Soy from Russia, Shuns USA

China, the world’s biggest soybean importer, almost tripled purchases from Russia amid a trade dispute with the U.S., the biggest producer.

Russia sold about 850,000 metric tons of soybeans to China from the start of the 12-month season in July through mid-May, according to Russia’s agriculture agency Rosselkhoznadzor. That’s more than during any season before and compares with about 340,000 tons sold during all of the previous period. China has already canceled several shipments from the U.S. in anticipation of tariffs on the country’s products. While Brazil is expected to take much of that market share, Russia is also benefiting.

soy

 

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