News reports continue to provide conflicting signals on the state of U.S. ag exports to China of soybeans and other ag products. The Wall Street Journal Wednesday reported Chinese state-controlled companies have canceled transports for some shipments from American exporters as new tensions flare between Washington and Beijing.
Maritime executives told the paper at least 23 cargoes of soybeans were withdrawn and that a handful of shipments of other agriculture commodities were “pushed back.” However, the article noted a similar Bloomberg report that Chinese importers late last week had been seeking 20-30 cargoes of U.S. soybeans, but opted to hold off.
Meanwhile, the China-run Global Times said that sales of U.S. soybeans to China announced this week are proof that there has been no halt in the purchases as has been reported. They quoted Zhang Xiaoping, country director for China at the U.S. Soybean Export Council, as saying Chinese firms are still buying U.S. soybeans in line with market rules, unaffected by diplomatic tensions between the two sides.
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