By Bill Tomson
The USDA announced Thursday that U.S. exporters are reporting large sales of U.S. corn and wheat to China after years of depressed trade. A new report shows export sales of 750,000 metric tons of U.S. corn and 340,000 metric tons of hard red winter wheat to China.
The corn sale is for delivery in the 2019-20 marketing year and the wheat sale is for 2020-21.
Both sales come on the heels of China offering to exempt importers from steep retaliatory tariffs placed on U.S. ag commodities. Also, China agreed in the “phase one” trade deal – implemented in February – to honor commitments to buy corn, wheat and rice under tariff rate quotas that had been under-used for years.
The sale for wheat announced today is more than China purchased in all of the 2019 calendar year (309,474 metric tons), according to USDA data. China only imported a total of 236,062 metric tons of wheat in all of last year.
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