Commodities & Energy

Reuters exclusively reports China to buy more U.S. grain

Reuters exclusively reports China to buy more U.S. grain

Reuters reported exclusively that China is preparing to buy more than 30 million tonnes of crops for state stockpiles to help protect itself from supply chain disruptions due to the coronavirus pandemic and make good on pledges to buy more U.S. crops. China plans to add about 10 million tonnes of soybeans, 20 million tonnes of corn and 1 million tonnes of cotton to its state reserves. The bulk of the crops would be imports, and mainly from the United States, as China works to fulfil its commitment under the Phase 1 trade deal signed in January.