In recent years, the annual meeting of the U.S. soybean export group has been a celebratory affair complete with a grand signing ceremony during which attendees committed to exporting billions of dollars of U.S. soybeans to China. But following months of escalating trade tensions Chinese attendees at this year’s confab in Kansas City last week carried a different message: China doesn’t need U.S. soybeans. In a keynote presentation, a leading official from China’s grain sector laid out how the country not only can buy soybeans elsewhere but can also switch to entirely different types of crops to supply its livestock and feed its population. Such a move would undercut global demand for soybeans and prevent the U.S. from simply turning to other countries. “If the trade tensions cannot be resolved quickly, the decrease in purchasing volumes of American soybeans will continue,” said Mu Yan Kui, an executive at the Yihai Kerry Group, a Chinese grain company, and vice chairman of China National Association of Grain Economy. “Many people have underestimated the Chinese people.” China, which bought more than 60% of U.S. soybean in the 2016-2017 sales year largely to feed its stocks
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