China's decision to stop buying US farm goods, including soybeans, amid reported tensions over Hong Kong may not have much of an impact on the dry bulk shipping market, shipbrokers say.

Chinese government officials have told major state-run agriculture concerns to stop buying US farm goods amid Trump administration threats to end US-Hong Kong trade status, according to Bloomberg.

This move, which violates the new US-China trade accord, may affect trade sentiment between the two nations but its impact on freight rates has yet to be seen, according to brokers.