(Yicai Global) Dec. 20 -- State-owned China Grain Reserves Group, also known as Sinograin, has been buying batches of soybean from the United States in order to adhere to an agreement made between Beijing and Washington.

The Beijing-based firm announced the purchases on its website today, without giving further details.

Chinese President Xi Jinping and US President Donald Trump agreed at the G20 Summit in Buenos Aires last month to put their four month-long trade dispute on hold for 90 days, giving them time to try and settle their differences before the US hiked its tariffs on USD250 billion worth of Chinese goods to 25 percent from 10 percent.

China had been imposing a 25 percent tariff on US soybean since late July, when the pair began a string of tit-for-tat tariffs targeting each other's goods, which led to many local processers buying their soya from elsewhere.