China Buys Huge Supply of U.S. Soy

Chinese buyers have agreed to purchase $4.8 billion in U.S. soybean supplies, representing 8.45 million tons, Reuters reports. According to Reuters, the deal is the largest single-day U.S. soy purchase in history, signed between companies such as Cargill, Archer Daniels Midland, and Bunge.

China is the world’s largest importer of soybeans. The United States is the top exporter of soybeans.