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China Buys More Soybeans Ahead of Negotiations | KRVN Radio

China Buys More Soybeans Ahead of Negotiations

China Buys More Soybeans Ahead of Negotiations
Veronica Chechini/iStock/Thinkstock

Monday was the second-straight day that USDA announced China had purchased U.S. soybeans. An Agri-Pulse report says that may be a good sign as U.S. and China trade negotiations are set to resume in Washington, D.C., on Wednesday.

The USDA says that China purchased 828,000 metric tons of U.S. soybeans for delivery during the 2018-2019 marketing year. Last Friday, USDA made a similar announcement as China purchased 816,000 metric tons. However, soybeans aren’t the only commodities that China has purchased in spite of the ongoing trade war. Just over a week ago, China bought 300,000 metric tons of U.S. corn, which drew praise from U.S. Grains Council President Tom Sleight.

“The corn purchase is very welcome news for U.S. agriculture,” Sleight says, “and we see it as a positive sign for the U.S. and China relationship as the intense negotiations are continuing.” On the trade policy front, a House Small Business Subcommittee held a hearing on Tuesday that looked at the impact of Trump’s trade policy on agriculture and labor.

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