China purchased more corn and soybeans from the United States this past week. Commodity Risk Management Group President Mike North says the purchases are a pleasant surprise because this isn’t the time of the year China typically buys from the U.S. The China purchases may appear to be related to the phase one trade deal, but North says it’s actually a matter of worldwide logistical hurdles. “China bought aggressively from South America, mostly Brazil, but as they did so, Brazil got a little over their skis with some of their sales. It’s almost put the pressure on China to come back to the United States.” North says a weak U.S. dollar has also brought China to the table. “They can buy cheap and we’re really the only game in town right now.”
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