Chinese buyers booked deals to buy 664,000 tonnes of soybeans, the largest daily total since July 22, for delivery in the 2020/21 marketing year, the U.S. Agriculture Department said on Tuesday.
According to Reuters, the sales were the latest in a string of large U.S. farm commodity purchases by China, which vowed to import record amounts of U.S. agricultural goods this year as part of a Phase 1 trade deal signed in January.
Still, Chinese purchases in the first half of this year totaled just $7.274 billion, according to U.S. Census Bureau trade data. The trade deal called for $36.5 billion in annual purchases.
