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This good news for ADM is bad news for U.S. farmers

Nov 09, 2018 at 04:02 PM CST
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(Bloomberg) — Some of the most iconic names in U.S. agriculture just agreed to do more business with China. But it’s coming at the expense of American farmers as the companies agree to ship more soybeans from Brazil amid Donald Trump’s trade war with Beijing. Cargill Inc., the biggest privately-held U.S. company, as well as its century-old rivals Archer-Daniels-Midland Co. and Bunge Ltd., among others, inked soybean deals with China’s state-owned grain buyer this week, the Beijing-based company said on its official wechat account. Under the agreement, the crop will be sourced from South American countries including Brazil, Argentina and Uruguay.