May 18, 2018 / 7:40 PM / 2 months ago

ADM has resold most U.S. sorghum shipments that were bound for China

CHICAGO (Reuters) - Most of agricultural trader Archer Daniels Midland Co’s sorghum shipments to China had been diverted and resold to other markets when Beijing dropped an anti-dumping probe into U.S. imports of the grain on Friday, a company spokeswoman said.

The Archer Daniels Midland Co. (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid

China ended its investigation into imports of U.S. sorghum after imposing hefty anti-dumping deposits on shipments of the grain last month.

The deposit scheme brought trade to a halt and disrupted supply chains worldwide, with almost two dozen ships carrying U.S. sorghum stranded at sea, as merchants and buyers scrambled to sell cargoes at big discounts elsewhere.

Reporting by Tom Polansek; Editing by Chizu Nomiyama

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