The prices of CBoT soybean futures have risen since yesterday, reaching a three-week high. China buys large quantities of US soybeans.
Since the US beans are cheaper than the Brazilian supply, many buyers take advantage of the opportunity, even if the government in Beijing advises to avoid US agricultural goods.
State-owned companies in China also bought three deliveries from the United States on Monday, despite the political upset between the two superpowers. 180,000 tons were ordered for delivery in October or November. Then US beans are usually the cheapest in the world.
Source
Hansa Terminhandel GmbH