China Making Large US Grain Purchases
Chinese buyers ordered 750,000 MT of corn and about 1 MMT of sorghum last week
China in the last week made several large purchases of American grain, sparking hope in the farming sector that the nation intends to make good on its promise to buy billions of dollars worth of U.S. agricultural products this year, industry groups say.
"It is great to see China back in the market," Ryan LeGrand, president and CEO of U.S. Grains Council (USGC), told UPI. "We hope it is the start of many more purchases."
Chinese buyers ordered more than 750,000 metric tons of American corn Thursday and about 1 million metric tons of sorghum earlier in the week, LeGrand said.