For the second-straight day, USDA officials announce China has purchased U.S. soybeans. Some analysts say it may be a good sign as U.S. and China trade negotiations resume in Washington, D.C. The USDA says that China purchased 828,000 metric tons of U.S. soybeans for delivery during the 2018-2019 marketing year.
Just a day earlier, 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 discussion. 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.”