US misses out on billions of dollars of China soybean sales midway through peak season

U.S. farmers are missing out on billions of dollars of soybean sales to China halfway through their prime marketing season, as stalled trade talks halt exports and rival South American suppliers step in to fill the gap, traders and analysts said. Chinese importers have booked around 7.4 million metric tons of mainly South American soybeans for October shipment, covering 95% of China's projected demand for the month and 1 million tons for November, or about 15% of expected imports, according to two Asia-based traders. By this time last year, Chinese buyers had booked around 12 million to 13 million tons of U.S. soybeans for September-November shipment, said one of the traders, who is based in Singapore at an international trading company.