Reuters

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China's state-owned COFCO purchased three U.S. soybean cargoes ahead of a summit between Presidents Trump and Xi.

The lack of Chinese buying has cost U.S. farmers billions in lost sales, leading to financial strain.

Despite the recent purchase, traders do not expect a major resumption in Chinese demand for U.S. soybeans.

BEIJING ― China's state-owned COFCO bought three U.S. soybean cargoes, two trade sources said, the country's first purchases from this year's U.S. harvest, shortly before a summit of Presidents Donald Trump and Xi Jinping.

As the two nations battle over trade tariffs, the lack of Chinese buying has cost farmers in Iowa, the second-largest grower of soybeans after Illinois, and elsewhere in the U.S. billions of dollars in lost sales,

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