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ASA Pleased With China Soybean Purchases, Wants 2nd MFP Payment

Photo: WNAX


Last week China started officially buying U.S soybeans again. USDA’s Soybean Export Report showed the three-day total last week was just shy of 2 million metric tons. American Soybean Association Vice President Bill Gordon says it’s a positive initial move by the Chinese.

He says he’d like to see China come to the table before the March 1st deadline and resolve the trade war.

Gordon says even with China buying U.S. soybeans again, there’s a lot of ground to make up for the losses caused by the retaliatory tariffs. He says they’re asking the Administration to move forward with the second round of Market Facilitation Program payments come out.

Last Thursday’s purchase of 1.13 million metric tons by China was the ninth largest one day purchase in ten years.

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