Chinese traders are rapidly increasing their orders of Argentinian soybeans, following the country’s temporary suspension of export taxes. Since the tax holiday was announced on Monday, at least twenty ship cargoes (about 1.3 million tons) have been booked. The orders include both crops to be shipped in November and those that will be harvested from April. Chinese traders have put in no orders for U.S. soybeans this year. The latter have been priced out of the market by reciprocal tariffs. “Essentially, China will have enough beans without U.S. beans,” one U.S. commodities trader said. (REUTERS)
The legendary Chinese landscape architect Yu Kongjian was killed in a plane crash in Brazil. Yu, as well as two filmmakers and a pilot, died after their small plane lost control during landing in the Brazilian state of Mato Grosso do Sul. He is known for his concept of ‘sponge cities’ – a revolutionary planning approach aimed at making urban areas more resilient against climate change. Instead of using barrier walls to keep out water, he created buffer zone wetlands that absorbed and redirected flash floods, transforming city design in China. He was reportedly working on similar projects in Brazil. (NEW YORK TIMES)
