U.S. market rumors that China may buy 1.5 million tons of new U.S. soybeans

Foreign media, January 19 news: Rumors in the U.S. market on Wednesday said China may buy 1.5 million tons of new U.S. soybeans for delivery in the year starting September 1, 2022, as China and the United States begin the second phase of the trade agreement. Friendly gesture before negotiation.

The first phase of the trade agreement signed by China and the United States on January 15, 2020 has expired. Affected by factors such as the epidemic, the amount of U.S. agricultural products purchased by China has not yet reached the scale required by the original agreement.

Based on the Phase 1 agreement signed by China and the United States in January 2020, China has committed to purchase $80.1 billion in U.S. agricultural products over the two years from January 2020 to December 2021. Statistics released by the Peterson Institute in December showed that in the 23 months to November 2021, China had purchased US$56.3 billion of US agricultural products, equivalent to 76% of the target amount of US$74 billion at the end of November.

China bought $23.5 billion in U.S. agricultural products in calendar 2020, equivalent to 64 percent of its first-year purchase target.

China Foodstuff & Protein Group

Tags: soybeans, purchase, agricultural products, Trade Agreement, U.S., Market, China