Washington, December 9th: The weekly export sales report released by the US Department of Agriculture shows that in the week ending December 2nd, the United States sold 890,000 tons of new beans for delivery in 2020/22 to China (Mainland China). For comparison, the United States sold 660,000 tons of new beans to China in the previous week.
Looking at the sales of other grains, China ordered 200,000 tons of corn and 370,000 tons of US sorghum that week. In addition, the United States shipped 137,000 tons of corn, 176,000 tons of sorghum and 1.47 million tons of soybeans to China that week.
According to the latest statistics from the Peterson Institute, the purchases in 2020 and 2021 are combined. According to the first phase agreement signed between China and the United States in January 2020, China has pledged to purchase US$80.1 billion in US agricultural products in the two years from January 2020 to December 2021. In the 22 months ending in October 2021, China has purchased US$52.5 billion in U.S. agricultural products, which is equivalent to 76% of the US$69.8 billion target at the end of October.
In the calendar year of 2020, China bought US$23.5 billion in US agricultural products, which is equivalent to 64% of the first year’s purchase target.