"It is a clear message to even private companies that it is OK now to import U.S. "Two other sources briefed on the matter said Chinese state grain trader Cofco [CNCOF.UL] would be permitted to buy U.S. soybeans again, ending restrictions imposed by Beijing as trade tensions rose. Gulf export prices for the new soybean crop rose on Tuesday, which a U.S.-based trader said may indicate a revival in demand from China. Exporters were lining up supplies for October to December shipment, the trader said.Improving trade relations appeared to be rekindling interest from China for other grains, traders said. That will come as a big relief to U.S. farmers, who saw orders cancelled and business dry up as Washington and Beijing threatened each other with trade tariffs.

Source: The Star May 23, 2018 19:52 UTC