Update on China’s Purchases of U.S. Agriculture

After China instituted its lockdown at the beginning of the year, the country depleted nearly 10 million metric tons of its soybean stockpiles. China recently has purchased five to eight cargoes of U.S. soybeans to help refill their stockpiles.

China is also looking to U.S. corn, as the prices for the product are at a record low. China has already purchased 2 million metric tons of corn this year.