December 21, 2018 / 1:59 AM / 7 months ago

China's COFCO confirms purchase of two batches of U.S. soybeans

The company logo of China Oil and Foodstuffs Corporation (COFCO) is seen at its headquarters in Beijing, China, November 3, 2016. REUTERS/Thomas Peter

BEIJING (Reuters) - China’s COFCO group said it had recently bought two batches of soybeans from the United States, amid a truce in a trade war between the two nations.

The state-owned agriculture conglomerate made the purchases “based on domestic demand” and “to fulfil the consensus reached by leaders of China and the U.S. during G20”, according to a statement published on the company’s website and dated Dec. 19.

COFCO did not specify volumes of the purchases.

Reporting by Hallie Gu and Ryan Woo; Editing by Joseph Radford

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