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National & World Ag News Headlines |
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China Buys More U.S. Soybeans, Pork Ahead of Trade Talks
USAgNet - 10/14/2019
Chinese importers stepped up purchases of U.S. agricultural goods ahead of high-level trade talks in Washington, including another wave of soybean deals and the country's record largest weekly purchase of American pork, U.S. data showed on Thursday.
Reuters reports that private exporters sold 398,000 tonnes of U.S. soybeans to China, the Department of Agriculture (USDA) reported via its daily sales reporting system that tracks large purchases. It was the second daily "flash sale" of soybeans this week to
the world's top soybean importer.
USDA also confirmed a net 1.18 million tonnes in soybean sales to China in the week ended Oct. 3 and record-large sales of pork, including 18,810 tonnes for shipment this year and 123,362 tonnes for shipment in 2020.
The flurry of deals came ahead of high-level U.S.-China trade talks in Washington that started on Thursday aimed at ending a 15-month trade war that has rattled global markets and slashed U.S. farm product exports to the world's top commodities importer.
U.S. pork sales to China, the world's biggest hog and pork market, had been largely disappointing this year following forecasts for massive purchases. Chinese domestic prices are soaring as the deadly African swine fever virus has decimated the country's hog
herd, tightening supplies of China's favorite meat.
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