China buys 264,000 tonnes of U.S. soybeans - USDA
Private exporters reported the sale of 264,000 tonnes of U.S. soybeans to China for delivery in the 2019/20 marketing year, the U.S. Agriculture Department said on Thursday, amid hopes for a partial trade deal between the world’s two largest economies.
That marked the first U.S. government confirmation of a soybean sale to the top buyer of the oilseed since President Donald Trump said on Oct. 11 that China would buy up to $50 billion in American farm products as part of a trade agreement.
An earlier USDA report showed total U.S. soybean export sales of 475,200 tonnes, including just 68,300 tones to China in the week ended Oct. 17. Analysts’ forecasts for the weekly report had ranged from 800,000 tonnes to 1.6 million tonnes.
A Bloomberg report said China was willing to buy $20 billion of U.S. farm goods in the first year of a trade deal.
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That marked the first U.S. government confirmation of a soybean sale to the top buyer of the oilseed since President Donald Trump said on Oct. 11 that China would buy up to $50 billion in American farm products as part of a trade agreement.
An earlier USDA report showed total U.S. soybean export sales of 475,200 tonnes, including just 68,300 tones to China in the week ended Oct. 17. Analysts’ forecasts for the weekly report had ranged from 800,000 tonnes to 1.6 million tonnes.
A Bloomberg report said China was willing to buy $20 billion of U.S. farm goods in the first year of a trade deal.
Click Here to read more.