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China buys American soybeans as trade talks progress

Chinese state-owned firms purchased at least 1 million metric tons of American soybeans on Feb. 1 and promised to buy an additional 5 million metric tons after two days of trade talks that pushed up the price of soybean futures. However, critics note that China, the largest importer of US soybeans before trade disputes arose, had previously bought 30 million to 35 million tons annually.

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