WASHINGTON—Chinese buyers have canceled U.S. soybean orders and shifted their purchases to South America in the past few months to avoid new tariffs between the United States and China. However, China is still dependent on U.S. supplies and will have to turn to American farmers after September, according to Morgan Stanley.
Soybean prices in Chicago have slid 16 percent since the beginning of trade disputes in early April, hurting U.S. farmers.
