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China Picks Up Pace of U.S. Soybean Imports Despite Rising Tensions
USAgNet - 07/27/2020

Private exporters reported to the USDA on July 21 that, for the second consecutive day, China had completed a sale for U.S.-grown soybeans, most of which will be delivered during the marketing year that begins Sept. 1.

The more recent sale is in the amount of 126,000 tonnes of soybeans, following a report July 20 of a 132,000-tonne purchase.

Chinese companies have bought 1.3 million tonnes of U.S. soybeans and 1.9 million tonnes of U.S. corn since July 14, despite rising tensions between the two countries.

"Phase One" of the U.S.-China trade deal calls for the latter to buy $36.6 billion of American agricultural, food, and seafood goods this year.

U.S. Trade Representative Robert Lighthizer predicted in June that China will satisfy the agreement by making big buys in the last months of the year.

During the first five months, China imported $7.5 billion of U.S. food and ag products, or just 20% of the target for 2020.

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