Home Forums Hunting & Shooting Hunter's Campfire U.S. sells record amount of corn to China as tensions rise

https://www.agweb.com/article/us-sells-record-amount-corn-china-tensions-rise

By Mark Weinraub

CHICAGO, July 30 (Reuters) - Chinese buyers booked their single biggest-ever purchase of U.S. corn, extending their flurry of large U.S. purchases even as tensions between Washington and Beijing rise.

The U.S. Agriculture Department said on Thursday that private exporters sold 1.937 million tonnes of corn to China for delivery in the 2020/21 marketing year. That topped the previous biggest deal to China of 1.762 million tonnes, reported just two weeks ago.

In a separate report, the USDA said soybean sales to China rose to 1.925 million tonnes in the week ended July 23, the biggest weekly total since Nov. 17, 2016.


The recent purchases place China closer to the ambitious $36.5 billion target for imports of U.S. farm goods this year set in the Phase 1 trade deal. Analysts and traders say that target may be achievable, but it is looking like a stretch.

The corn sale reported on Thursday was valued at around $325 million, based on new-crop prices at the U.S. Gulf. China's American farm purchases amounted to $6 billion through May - the latest data available - up just 9.1% from the same period in 2019 and 31% below 2017's level.

China on Thursday accused the United States of stoking a new Cold War ahead of its presidential election in November. U.S. Secretary of State Mike Pompeo also called the Chinese Communist Party "the central threat of our times."

Rising tensions have already slowed Chinese purchases of U.S. soybeans this week, U.S. Soybean Export Council CEO Jim Sutter said during a virtual town hall with agriculture leaders on Thursday, citing sources in China.


"They're worried that there could be a disruption in the implementation of the Phase 1 agreement. That uncertainty is not good for future purchases," Sutter said.

Near the close of trading on Thursday, Chicago Board of Trade corn and soybean futures were slightly higher.

We send them food, and they send us unknown seeds.

Word is floods, locusts, Swine flu issues and COVID are causing food issues in China.

Good source of China info here.

https://www.youtube.com/channel/UCG8yy4W8nBbTle9YSpCqXeg

On of the best things we could do for our future is to stop exporting food to our enemies

That seed thing was very strange.

Corn will make em fat and docile.

Let 'em starve and die.

I've read that Japan bought very large amounts of steel and iron in the months before Pearl Harbor.

They can't be trusted!!! So don't sell them anything and stop buying from them.... We can make what we buy from them...who needs their headache.?.? Pizz on them!

Maybe they could send a whole bunch of Americans to Viet Nam to stop the spread of communism?

That worked our well

We have borrowed a lot of money from China. It takes a lot of money to buy votes and pay off the minorities. Not counting the foreign aid we need to send to countries so our politicians can get a kick back.
So if China is hungry, raise the price of food. Supply and demand. Hasbeen

I hope it's tainted.

I hope some farmers piss on it before shipping!

China, as we know it, is on the verge of collapse, due to force from above - rain, and a seemingly never ending monsoon that threatens their existance.

The 3 gorges dam is at 50 ft over flood stage and thats with all gates open and flooding and eroding farms and villages and dams below it.

If it goes, so does Wuhan and Singapore, along with their food and the worlds pharmaceuticle compounds need for meds.

Delicate balancing act we must walk the tightrope because of what our previous crooked administrations did.

We have to get Some, if the money back from China.

Never underestimate the CCP grip on power or what they will do to maintain power. They are not bound by morals or laws.

Hungry people are more likely to revolt. The Chinese leadership can't risk that. It worked for Mao.

kwg

Democrat anti-American/socialist/communist are not bound by morals or laws and will do anything to get more power.