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US says China is on track to meet farm purchase commitments
The US expects China to buy about US$17 billion of US agricultural products this year, and it reported US soybean exports to China rising above 700,000 metric tonnes in the first nine days of September.
The Trump administration said China is on track to fulfill its agricultural purchase commitments ahead of talks between US President Donald Trump and Chinese President Xi Jinping in Washington later this month, with farming products expected to be a key deliverable, according to SCMP Economy.
Speaking at a Council on Foreign Relations event, Luke Lindberg, the US Under Secretary for Trade and Foreign Agricultural Affairs at the USDA, said the US is seeing progress as China ramps up purchases.
Lindberg said China is expected to buy US$17 billion worth of US agricultural products this year, and that including soybeans would bring annual sales to US$30 billion. He added that China met its commitment to buy 12 million metric tonnes of US soybeans in the 2025 season and is on track to reach 25 million metric tonnes this year.
In the run-up to Xi’s visit, USDA flash reports show soybean exports to China rising, crossing 700,000 metric tonnes in the first nine days of September.
Latest closeSoybeans $1,308.75 ▲0.5%