China booked its second-largest single-day U.S. corn purchase on record, according to U.S. Department of Agriculture (USDA) data released on Friday, as the country works to fulfill its Phase 1 trade deal obligation to dramatically increase U.S. farm product imports.
The USDA said China bought 765,000 tonnes of corn for shipment in the current marketing year which ends Aug 31 and 600,000 tonnes for shipment in the following year.
The 1.365 million tonnes of corn booked by China was its largest single-day purchase in 25-1/2 years, behind only a 1.45-million-tonne purchase in December 1994, a according to USDA data. China also booked deals for 130,000 tonnes of U.S. hard red winter wheat and 190,000 tonnes of U.S. hard red spring wheat, the USDA said.
In the Phase 1 trade deal signed with the United States in January, Beijing agreed to buy $80 billion of U.S. agricultural products over the next two years. China on Friday increased its corn and soybean import forecasts for the current season, as the country was expected to step up purchases from the United States.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WHO experts to visit China as part of COVID-19 investigationBEIJING (AP) — Two World Health Organization experts will spend the next two days in the Chinese capital to lay the groundwork for a larger mission to investigate the origins of the COVID-19...
Read more »
China reports four new coronavirus cases in mainlandChina reported four new coronavirus cases in the mainland for July 9, down from nine a day earlier, the health authority said on Friday.
Read more »
HSBC may have to choose between East and West as China tightens grip on Hong KongHSBC has carved out a lucrative role in global banking over the past 155 years by straddling the line between East and West. Now, a political firestorm over the bank's hometown of Hong Kong could force the bank to choose sides.
Read more »
Google shuts down cloud project, says no plan to offer cloud services in ChinaAlphabet Inc's Google said on Wednesday it has shut down its cloud project named 'Isolated Region' and added that it was not weighing options to offer its cloud platform in China.
Read more »
Google scraps cloud project in China and other 'sensitive markets': Bloomberg NewsAlphabet Inc's Google has scrapped plans to provide a major new cloud service in China and other politically sensitive countries, partly due to rising geopolitical tensions and the pandemic, Bloomberg News reported on Wednesday, citing two employees familiar with the matter.
Read more »
U.S. will act to deny China access to Americans' data, says PompeoThe Trump administration will take steps to ensure the Chinese government does not gain any access to the private information of American citizens through telecommunications and social media, U.S. Secretary of State Mike Pompeo said on Wednesday, when asked if the U.S. was planning to ban Chinese-owned app Tiktok.
Read more »