News Snapshot:
China is scooping up corn and soybeans from the United States as part of efforts to mitigate the risks to commodity supplies from Russia’s war in Ukraine and slower harvests in South America. Chinese buyers recently booked around 20 cargoes of American soybeans and around 10 shipments of corn, according to traders who asked not to be identified as they are not authorised to speak publicly. The buying spree reflects robust demand in the top importer as worries over supplies grow following Russia’s invasion of Ukraine and weaker-than-expected supply from Brazil, the world’s biggest soybean producer. Those purchases come after...
