Reference News Network, September 24 report: Singapore's "Lianhe Zaobao" on September 24 cited Reuters news, reporting that three traders told Reuters reporters on the 23rd that Chinese buyers have ordered at least 10 ships of soybeans from Argentina to build up reserves for the fourth quarter.
Argentina announced on the 22nd that it has temporarily abolished export taxes on grains and their by-products, including soybeans, to enhance the competitiveness of its products in the global market.
Two informed traders said that one ship of soybeans is 65,000 tons, which will be shipped in November. One trader also revealed that Chinese buyers actually booked 15 ships of soybeans.
According to the report, US President Trump had asked China to increase its purchase of US soybeans in August, but traders and analysts pointed out that the ongoing trade negotiations between the two countries have led to a stagnation in US soybean exports. Meanwhile, South American suppliers have entered the market to fill the gap, leading to the current sales season being half over, while US farmers have missed the opportunity to sell soybeans to China.
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