Exclusive-China buys Argentine soybeans after tax drop, leaving US farmers sidelined
By Naveen Thukral and Ella Cao
Singapore/Beijing (Reuters) -Skinli buyers, after scrapping Buenos Aires’s cereal export taxes on Monday, made at least 10 cargo Argentine soybeans reservations, three traders said in a statement on Tuesday, the US farmers and the low prices that hit the low prices, he said.
Underneath
Argentina’s temporary tax move increases the competitiveness of soybeans and encourages traders to secure cargoes for the fourth quarter inventories in China, but often US shipments are dominant, but now he’s blurred by Washington’s trade war with Beijing.
Panamax, each of which is 65,000 metric tons of Panamax, is planned in November, and CNF (Cost and Load) prices quoted the Chicago Trade Board (CBOT) as a premium of $ 2.15-2.30 per shele, and two traders with direct information on the subject.
One of the merchants said Chinese buyers made 15 cargo reservations.
Opportunities, traders and analysts, unresolved trade interviews, a new coup for US farmers who missed billions of dollars of soybeans for the sale of billions of dollars of soybeans for competitor South American suppliers for unresolved trade interviews, Brazil’s leadership.
“These agreements were made last night after Argentina’s export tax decision.” “This clearly means that China does not need beans.”
Traders, China, the world’s largest soybean buyer, said that the US soybeans have not yet purchased US soybeans from autumn harvest.
Chinese President Xi Jinping and us on Friday President Donald Trump He organized a telephone conversation, but both sides did not report any updates about agriculture, and Chicago soybean futures have already further squeezed the futures of 5 years at low levels. [GRA/]
At the beginning of this month, Reuters reported that China had almost completed the purchases of soybeans for October shipment and separated about 15% of November from South America. Traders, until then in the previous years, China’s September-November shipment will buy 12-13 million tons from the United States, he said.
Temporary Tax Discount
The Argentine government is a move that reduces China’s soy -futures on Tuesday until the announcement of temporary cereal tax will continue until October or until the proclaimed exports reach $ 7 billion.
As of 0639 GMT, China’s most active Dalian soy futures fell 3.5% and the most active Dalian soy Petrol Futures fell 3.5%.
“The decline in prices was mainly due to the fact that Argentina’s removal of cereal export taxes yesterday, which made the prices more attractive for Chinese buyers,” Johnny Xiang, the founder of Consulting, based in Beijing. He said.
