US EditionChina buys Argentine soybeans after tax drop, leaving US farmers sidelined
China halted US soybean purchases for the new season, buying at least 25 shipments from Argentina after Buenos Aires cut export taxes, sidelining US farmers amid tariffs exceeding 20%.
- Following Argentina's removal of grain export taxes, Chinese purchasers acquired no fewer than 10 shipments of Argentine soybeans, presenting fresh challenges for U.S. farmers.
- China's avoidance of U.S. soybeans results from tariffs exceeding 20%, trade tensions, and a strategy revived from the earlier trade war.
- Argentina's temporary tax suspension, lasting through October or until $7 billion exports are declared, boosts its soybean competitiveness and draws Chinese purchases.
- Ted Seifried noted that the current moment works out very well for China as it secures Panamax-sized soybean shipments at premiums compared to U.S. soybeans.
- Without a trade deal removing tariffs, U.S. soybean farmers face lost sales and low prices while China uses its commodity demand as leverage.
21 Articles
21 Articles
China Buys Argentine Soybeans After Tax Drop, Leaving U.S. Farmers Sidelined
Chinese buyers booked at least 10 cargoes of Argentine soybeans after Buenos Aires scrapped grain export taxes, three traders said on Tuesday, dealing another setback to U.S. farmers already shut out of their top market and hit by low prices.
China buys Argentine soybeans after tax drop, leaving US farmers sidelined
Chinese buyers booked at least 10 cargoes of Argentine soybeans after Buenos Aires on Monday scrapped grain export taxes, three traders said on Tuesday, dealing another setback to U.S. farmers already shut out of their top market and hit by low prices.
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