U.S. exporters reported sales of 720,000 tonnes of soybeans to China, the U.S. Department of Agriculture (USDA) said on Thursday, as active purchases by the world's top soy importer continued for a second straight week.
FILE PHOTO: Soybeans in a field on Hodgen Farm in Roachdale, Indiana, U.S. November 8, 2019. Picture taken November 8, 2019. REUTERS/Bryan Woolston
The USDA confirmed the sales after reporting that weekly U.S. soybean export sales last week were the largest in at least 16 months, with the majority slated for shipment to China or undisclosed destinations widely believed to be China. China vowed in a Phase 1 trade deal signed in January to dramatically increase purchases of U.S. farm goods. But sales of key commodities like soybeans, America’s biggest agricultural export by value, remain well below levels before the U.S.-China trade war that began in 2018.
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