Soy Boom? China Could Buy Record Amount of US Soybeans | WHAT REALLY HAPPENED

Soy Boom? China Could Buy Record Amount of US Soybeans

In a throwback to 2019 optimism on the US-China trade deal, the Trump administration has shifted from vaccine pump headlines to trade. Bloomberg cites several sources who say after top U.S. and Chinese trade officials reaffirmed phase one trade deal commitments earlier in the week, that China is planning to purchase a record amount of soybeans.

The sources estimate total purchases could be around 40 million tons this year, an amount that would be 25% more than the levels seen in 2017.

"China has been stepping up purchases of American agricultural goods since the end of April, with soybean sales for delivery next season currently running at their highest level for this time of year since 2013," Bloomberg notes.

China has been lagging behind purchase commitments laid out in phase one trade agreement. We outlined this in a piece titled ""Trade Deal" Farce Summarized In These Charts."

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