China Pledges More U.S. Soybean Imports

November 8, 2017 12:46 PM

President Trump is continuing his trip through Asia, and as he arrived in China Wednesday, American and Chinese companies signed 19 agreements worth $9 billion.

Farmers are also getting good news out of China with the country agreeing to purchase more U.S. soybeans. According to a report from Reuters, Chinese soybean buyers are preparing to sign a letter of intent with the U.S. Soybean Export Council.

While the exact number hasn’t been released, this comes in addition to a July letter which pledged the purchase of 12.5 million tonnes of soybeans from the U.S. This new volume is expected to be “much less” than the July agreement, said Paul Burke, U.S. Soybean Export Council’s North Asia regional director.

In the 2017/18 marketing year, China is expected to import 96 million tonnes.

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Spell Check

Kouts, IN
11/13/2017 11:31 AM

  Would also like to know how many "agreements" China has cancelled.....

decatur, AL
11/9/2017 06:59 AM

  I would be interested in knowing how many tons were imported during the last year of the last administration? Can you please provide me with that information?


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