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US soybean exports to China quadruple amid tariffs waivers

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US soybean exports to China quadruple amid tariffs waivers

Overall U.S. soybean exports doubled in the week ended Sept. 26, compared to the previous week, as soybean purchases from China quadrupled amid retaliatory tariffs waivers, data from the U.S. Agriculture Department showed.

The U.S. exported 2.1 million metric tons of soybeans between Sept. 20 and 26, compared to the 1.0 million metric tons of sales reported for the Sept. 13-19 period.

China's soybean purchases increased to 1.6 million metric tons in the Sept. 20-26 week from 391,400 metric tons in the prior week. China has reportedly granted waivers to a number of domestic companies to exempt them from tariffs on U.S. soybean imports, ahead of trade talks between the U.S. and China next week.

The U.S. in September temporarily exempted 437 Chinese products from additional tariffs.

The Agriculture Department said Oct. 3 that 252,000 metric tones of soybeans would be delivered to China by private exporters in the 2019-2020 marketing year.