According to CHS Executive Vice President of Ag Business John Griffith, China has purchased approximately one-third of the 12 million metric tons of soybeans expected to be purchased before the end of the year. “Of course, the window is tight before Brazil’s harvest comes into full effect sometime in March, so this window that they’re trying to buy from us is closing on us because we got a late start with the tariff situation.” Griffith is fairly optimistic China will get close or achieve the 12 million ton total, but emphasized that number is half of what has been sold in the recent history. There is still a ten percent tariff in place on all Chinese soybean sales to the United States. That is equal to about $1.30 per bushel in tariff costs. “That’s still a trade barrier that needs to be resolved for there to be truly free and fair trade.” Listen to the interview.
