Remarks being aired by Chinese state media
- Says 2 million tonnes of US soybeans destined for China will be loaded this month
- Says Chinese companies have signed a deal on 14 million tonnes of US soybeans
- China bought 130k tonnes of soybeans, 120k tonnes of sorghum, 60k tonnes of wheat, 40k tonnes of pork, 25k tonnes of cotton from US between 19 July and 2 August
This is a bit suggestive that purchases have not halted completely just yet, as per earlier media reports. However, with fresh tariffs in place and trade negotiations in doubt, we may not see any further purchases beyond what is agreed here.
But for now, at least there is some indication that they aren't stopping just yet. With the headlines here, USD/JPY is picking up a light bid moving from 106.00 to 106.30.
I don't see the headlines here as being a game changer. It seems more that China is complaining rather than conciliating and that is never good news.
