China's financial news magazine Caixin reported (May 8) that China is boosting its purchases of U.S. soybeans to fulfil commitments under a trade deal signed by the world’s two largest economies in January. It said between April 22 and May 5, American private exporters reported sales of 1.25 million tons of soybeans to China, according to data from the U.S. Department of Agriculture (USDA). By comparison, China imported a total of 1.75 million tons of U.S. soybeans in the whole month of April 2019, according to China’s General Administration of Customs. In the first three months this year, China’s soybean imports from the U.S. more than doubled from the same period last year to 7.8 million tons, customs data showed. Expecting larger orders from China, American farmers are planting more soybeans as the soybean planting season begins.
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