Private exporters reported the sale of 264,000 tonnes of U.S. soybeans to China for delivery in the 2019/20 marketing year, the U.S. Agriculture Department said on Thursday, amid hopes for a partial trade deal between the world’s two largest economies.
According to Reuters, that marked the first U.S. government confirmation of a soybean sale to the top buyer of the oilseed since President Trump said on Oct. 11 that China would buy up to $50 billion in American farm products as part of a trade agreement.
A Bloomberg report said China was willing to buy $20 billion of U.S. farm goods in the first year of a trade deal.
