China made its second biggest ever single buy of U.S. corn, the U.S. Department of Agriculture reported July 10—1.365 million tons, the biggest single-day sale since 1994, according to a Waterways Journal report.
About 765,000 tons of the corn purchase is for delivery this year and the rest is for the 2020-21 season.
The purchase followed another large Chinese corn buy a few weeks previously. China also bought 190,000 tons of hard red spring wheat and 130,000 tons of hard red winter wheat for delivery next season.
Despite recent tensions over a variety of issues with the U.S., China insists it is fulfilling its obligations under Phase 1 of the U.S. China trade deal.
As part of that deal, China promised to increase its buys of U.S. agricultural commodities to $36.5 billion, up 50 percent from $24 billion in 2017.
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