Chinese companies have stopped buying U.S. agricultural products, China's C...
BEIJING - Chinese companies have stopped buying U.S. agricultural products, China’s Commerce Ministry said on Tuesday, a blow to U.S. farmers who have already seen their exports slashed by the more than year-old trade war.
China on Monday also let the yuan weaken past the key 7-per-dollar level for the first time in more than a decade. The United States responded by designating China a currency manipulator. The National Pork Producers Council said in an email it was important to end the trade war so pork producers could “more fully participate in a historic sales opportunity.”
Overall, China has purchased about 14.3 million tonnes of last season’s soybean crop, the least in 11 years, and some 3.7 million tonnes still need to be shipped, according to U.S. data. China bought 32.9 million tonnes of U.S. soybeans in 2017, before the trade war. Weekly U.S. data on Aug. 1 confirmed the first new U.S. soybean sale to China since June, of 68,000 tonnes from the crop that will be harvested this fall. Additional sales through Aug. 1 could be recorded in the next U.S. government export sales report on Thursday.
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