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News 244 views last update:6 Aug 2012

Soy deal between China and US

China will purchase 5.76 million tonnes of soybeans from the United States worth $2.07 billion.

The purchase agreements, signed at the Chicago Board of Trade, are widely seen as a diplomatic gesture ahead of US-Chinese trade talks in Washington this week, reports Reuters.

China is the top buyer of US soybeans, accounting for about one-third of US export sales, according to the US Agriculture Department.

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