[Special Stock] Hyundai Feed, China's Halt on U.S. Soybean Purchases Becomes Reality... US-China 'New Cold War' Begins

[Asia Economy Reporter Park Hyungsoo] Hyundai Feed's stock price is on the rise. It appears to have been influenced by foreign media reports that China has stopped purchasing American agricultural products such as soybeans.

As of 9:18 AM on the 2nd, Hyundai Feed is trading at 18,550 KRW, up 9.44% from the previous day.

According to major foreign media, Chinese government officials have reportedly instructed major state-owned companies, including COFCO (China National Cereals, Oils and Foodstuffs Corporation) and Sinograin (China Grain Reserves Corporation), the country's largest grain companies, to halt purchases of certain agricultural products including soybeans.

If the reports that China has stopped purchasing American agricultural products are true, the US government is likely to strongly oppose this, potentially escalating US-China tensions further. There are also assessments that US-China conflicts have escalated to a 'new Cold War' level following China's forcible enactment of the Hong Kong National Security Law.