Beijing may have ordered the closure of a US consulate in China in retaliation for the United States closing its consulate in Houston, but the escalating tensions may not impact Chinese imports of US ag products.
“We believe that China will continue to buy when prices are cheap," Suderman says, "and currently they see U.S. corn and soybean prices as cheap, from a historical standpoint.”
And right now, Suderman says, the Chinese need U.S. soybeans, “to help bridge the gap until the South American harvest starts early next year.”
On July 24, China's ministry of foreign affairs said it had ordered the US consulate in Chengdu, in Sichuan province in southwestern China, to cease operations.
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