BEIJING, CHINA — China’s US soybean purchases continue after the country hit a record high of imports in June, Reuters reported.
On July 16, China purchased 522,000 tonnes of soybeans, and of that total 132,000 tonnes are to be delivered during the 2019-20 marketing year while 390,000 tonnes are set to be delivered during the 2020-21 marketing year, according to the US Department of Agriculture (USDA).
The marketing year for corn and soybeans began Sept. 1.
The increased imports are suspected to be related to US President Trump’s executive order ending preferential economic treatment for Hong Kong, Reuters reported. His goal of the order is to punish China for its actions against Hong Kong. China responded with retaliatory sanction warnings.
