China bought about 1.1 million tons of soybeans from the U.S. in the week ended Feb. 10

WASHINGTON, Feb. 17: The U.S. Department of Agriculture’s weekly export sales report showed that the U.S. sold about 1.1 million tons of soybeans to China (mainland) in the week ended Feb. 10, including sales in 2021/22. At 225,000 tonnes, sales for delivery in 2022/23 were 876,000 tonnes.

For comparison, the U.S. sold about 614,000 tons of soybeans to China in the previous week, including 298,000 tons in 2021/22 and 316,000 tons for delivery in 2022/23.

Judging from the sales of other grains, China bought 208,000 tons of U.S. sorghum that week for delivery in 2021/22, while canceling 53,000 tons of orders for 2022/23. The U.S. shipped 414,000 tons of corn, 141,000 tons of sorghum and 576,000 tons of soybeans to China that week.

Based on the Phase 1 agreement signed by China and the United States in January 2020, China has committed to purchase $80.1 billion in U.S. agricultural products in the two years from January 2020 to December 2021.

According to a report released by the Peterson Institute on February 8, in the 24 months to December 2021, China’s actual purchases were equivalent to 83% of the promised target. The soybean purchase amount is equivalent to 66% of the purchase target.