FROM EIR DAILY ALERT

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China Responds to Trump-Xi Talks in Buenos Aires and Resumes Buying Soybeans

Dec. 13, 2018 (EIRNS)—Responding quickly following the Dec. 1 talks between Presidents Donald Trump and Xi Jinping to extend the trade détente by another 90 days, China has resumed buying U.S. soybeans, bringing some relief to farmers in America’s heartland. Bloomberg News reports China has bought 1.5 million to 2 million metric tons of American supply over the past 24 hours, with shipments expected to occur sometime during the first quarter, the U.S. Soybean Export Council said, citing unidentified industry sources. China’s state stockpiler Sinograin and its top food company Cofco are planning more purchases, according to people with knowledge of the plan, Bloomberg reported.

Meanwhile, at a press conference in Beijing, Chinese Ministry of Commerce spokesman Gao Feng said China welcomes any U.S. trade delegation to visit the country and is keeping an “open attitude” about visiting the U.S. for trade talks. The two countries’ economic and trade teams are maintaining close contact, discussing the details of trade negotiations and making smooth progress, he said, reported China Daily.