Soy Traders Shrug Off China Cargoes as They Await Trump-Xi (1)

Soybean traders were underwhelmed by news of China’s first purchases of US cargoes this season, stepping back as they await details from a highly anticipated agreement between Beijing and Washington.

The purchase of at least two cargoes of US soybeans that’s said to be slated for delivery later this year could mark a revival of flows between the two nations. But the relatively small volume isn’t a game-changer, according to Illinois grower John Bartman. A handful of cargoes would be a drop in the bucket for a trade that was worth more than $12 billion last year.

“It would be ...