China bought about 614,000 tons of soybeans from the U.S. in the week ended Feb. 3

WASHINGTON, Feb. 10: The U.S. Department of Agriculture’s weekly export sales report shows that the U.S. sold about 614,000 tons of soybeans to China (mainland) in the week ended Feb. 3, including sales for 2021/22. Sales of 298,000 tonnes for delivery in 2022/23 were 316,000 tonnes.

For comparison, the U.S. sold about 630,000 tons of soybeans to China the previous week, with 28,600 tons less in 2021/22 and 660,000 tons for delivery in 2022/23.

Judging from the sales of other grains, China cancelled 3.785 million tons of U.S. corn orders and bought 250,000 tons of U.S. sorghum that week. The U.S. shipped 209,000 tons of corn, 125,000 tons of sorghum and 727,000 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.