China bought 1.365 million tons of US corn on Friday

China made its largest corn purchase ever in the United States on Friday. The country is currently striving to fulfill its promise from the trade deal (phase 1), in which the parties agreed in January to buy more US agricultural products.
The USDA announced on Friday that China had bought 765,000 US corn. This quantity should be purchased in the current marketing year, which ends on August 31. The Chinese also bought another 600,000 tons of US corn for purchase next season.
In total, 1.365 million tons of US corn were sold in one day. This is the largest daily turnover in 25.5 years. In 1994, China also bought 1.45 million tons of US corn in one day.
Then on Friday China also bought 130,000 tons of US wheat (hard red winter) and 190,000 tons of hard red spring wheat.
In the US-China Phase 1 agreement on January 15, the parties agreed that China would buy $ 80 billion in US agricultural products over the next two years.
China raised its import forecast for corn and soybeans this season on Friday, underlining this with the impressive quantities that were ordered.

Hansa Terminhandel GmbH
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