# China signs US agriculture purchase agreements in first ceremony in years

> China signed US agriculture purchase agreements at a forum in Iowa, the first bulk signings since 2017, covering soybeans, corn, sorghum and wheat. Purchases from the latest US harvest were still far below last year, with soybeans down 39% and corn down 73% as of Oct. 19. Brazil's bumper crops have kept Chinese buyers supplied elsewhere.

- Date: 2023-10-24 · published 2023-10-24T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/14802-china-signs-us-agriculture-purchase-agreements-in-first-ceremony-in-years
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

The signed contracts give US exporters a firmer outlook for Chinese demand, which supports US soybean, corn and sorghum prices. Actual shipments remain well behind last year, so the price effect is limited until sales are executed.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-10-24 | [China – U.S. Agriculture Companies Sign 11 Purchase Contracts/Agreements - U.S. Soybean Export Council](https://feedsoft.ai/events/14807-china-u-s-agriculture-companies-sign-11-purchase-contracts-agreements-u-s.md) | -0.3% | +6.3% |
| SOY | 2023-12-11 | [China significantly steps up US grain purchases \| Agriculture Dive](https://feedsoft.ai/events/14788-china-significantly-steps-up-us-grain-purchases-agriculture-dive.md) | +0.9% | -4.8% |
| SOY | 2019-02-21 | [China to propose $30 billion more US agriculture purchases](https://feedsoft.ai/events/60478-china-to-propose-30-billion-more-us-agriculture-purchases.md) | +0.1% | +0.4% |
| SOY | 2020-01-15 | [China to purchase $36 bil of US agricultural products in 2020, $43 bil in 2021: governments \| S&P Global](https://feedsoft.ai/events/54943-china-to-purchase-36-bil-of-us-agricultural-products-in-2020-43-bil-in-2021.md) | -1.6% | -3.9% |
| SOY | 2023-10-24 | [China Engages in First US Farm-Good Signing Ceremony Since Trump Trade Dispute - Bloomberg](https://feedsoft.ai/events/14805-china-engages-in-first-us-farm-good-signing-ceremony-since-trump-trade-dispute.md) | -0.3% | +6.3% |
| CORN | 2023-10-24 | [China – U.S. Agriculture Companies Sign 11 Purchase Contracts/Agreements - U.S. Soybean Export Council](https://feedsoft.ai/events/14807-china-u-s-agriculture-companies-sign-11-purchase-contracts-agreements-u-s.md) | -4.3% | -4.8% |
| CORN | 2019-02-21 | [China to propose $30 billion more US agriculture purchases](https://feedsoft.ai/events/60478-china-to-propose-30-billion-more-us-agriculture-purchases.md) | -0.3% | +2.0% |
| CORN | 2020-01-15 | [China to purchase $36 bil of US agricultural products in 2020, $43 bil in 2021: governments \| S&P Global](https://feedsoft.ai/events/54943-china-to-purchase-36-bil-of-us-agricultural-products-in-2020-43-bil-in-2021.md) | +0.3% | -2.4% |

## Sources

- reuters.com: https://www.reuters.com/article/business/china-signs-us-agriculture-purchase-agreements-in-first-ceremony-in-years-idUSL1N3BU1T6/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.