A delegation of commodity importers from China, the world’s top buyer of soybeans, signed agreements on Thursday to buy 12.53 million tonnes of the US crop, the second largest deal between the two countries, the US Soybean Export Council said.
The previous record was a 13.18 million-tonne agreement signed in 2015. The non-binding deal was signed at a ceremony in Des Moines, Iowa.
Traders and analysts had been paying closer attention than usual to this year’s deal due to uneven relations between the two countries following US President Donald Trump’s election in November. Click here to read more.