💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

First U.S. Soy Cargo to China in Three Weeks Sails for Shanghai

Published 08/06/2018, 01:31 PM
Updated 08/06/2018, 01:50 PM
First U.S. Soy Cargo to China in Three Weeks Sails for Shanghai

(Bloomberg) -- A ship with U.S. soybeans set sail for China last week, according to data released Monday, showing that the Asian nation is still importing some quantities of the commodity grown in America despite tariffs imposed by the government in July.

The bulk carrier Betis departed Gavilon Group LLC’s export terminal in Kalama, Washington, for Shanghai on July 29, carrying the first cargo of American soybeans destined for China in three weeks, according to a report published by the U.S. Department of Agriculture.

China is widely expected to reduce imports of U.S. soybeans and buy more from Brazil.

The Betis is the fourth ship departing from U.S. shores with American soybeans since mid-June. But only one of the other three vessels has actually delivered a cargo, according to shipping data compiled by Bloomberg. Cemtex Pioneer arrived at Nantong port on Monday afternoon local time, making it the first U.S. soybean ship to arrive after China imposed an additional 25 percent import tariff on American beans in July, according to Bloomberg shipping data. Peak Pegasus arrived at Dalian on July 6 but is still waiting outside the port, the data show.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.