Despite Messaging, China Set to Buy More U.S. Soybeans
Country says it can make an easy pivot away from U.S. supplies
Soybeans are straining Beijing's message on tariffs, reports Nasdaq.
China looks set to buy more of the animal feed ingredient from the United States, even after duties were imposed.
That's despite official comments that imply the People's Republic can quickly diversify away from the more than $12 billion of purchases it made from the United States last year.
Markets sense it coming; soon others may see through the trade war bluster too.
China's official message has been the country can make an easy pivot away from U.S. supplies.
China may need to start purchasing U.S. soybeans in the coming weeks as other countries cannot produce enough to meet its demand, analysts at Oil World said on Aug. 7.
Read the full report here.