China's state-owned COFCO bought 3 U.S. soybean cargoes this week, 2 commercialized sources said.
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China's state-owned COFCO bought three U.S. soybean cargoes this week, 2 trade sources said, the country's archetypal purchases from this year's U.S. harvest ahead of this week's acme of leaders Donald Trump and Xi Jinping.
COFCO purchased astir 180,000 metric tons of soybeans for December and January shipment done Pacific Northwest larboard terminals, the sources said.
COFCO did not instantly respond to a Reuters petition for comment.
Benchmark Chicago soybean futures prices jumped this week to their highest successful 15 months, rebounding from caller five-year lows connected hopes for a U.S.-China trade deal.
China, the world's biggest soy importer, shunned soybeans from the autumn U.S. harvest, switching its request to South American suppliers amid commercialized struggle with Washington.
The antithetic hold has already cost U.S. farmers billions of dollars successful mislaid sales, aft they mostly supported Trump in his campaigns for president.
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