# Hebei firm inks $3 billion US soybean purchase deal - Chinadaily.com.cn

> Hopefull Grain & Oil Group, a Hebei company, signed two agreements with ADM and Olam in Des Moines to buy $3 billion of US soybeans over three years. The company said it imported 3.06 million tons of US soybeans in 2022. Hebei officials attended the signing.

- Date: 2023-10-28 · published 2023-10-28T12:00:00.000Z
- Category: trade · region China · magnitude low
- Page: https://feedsoft.ai/events/14809-hebei-firm-inks-3-billion-us-soybean-purchase-deal-chinadaily-com-cn
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The multi-year purchase supports US soybean export demand, but at about $1 billion a year it is small relative to China's total imports. Its price effect is limited.

## Read by commodity

- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-03-25 | [China's purchase of US soybeans spike in Jan-Feb under phase one deal](https://feedsoft.ai/events/53995-china-s-purchase-of-us-soybeans-spike-in-jan-feb-under-phase-one-deal.md) | -0.1% | -5.9% |
| SOY | 2020-09-24 | [US soybean demand firm on Chinese state-owned companies' purchases: sources](https://feedsoft.ai/events/50986-us-soybean-demand-firm-on-chinese-state-owned-companies-purchases-sources.md) | +0.9% | +5.7% |
| SOY | 2017-11-10 | [China inks $5b deals for purchase of U.S. soy](https://feedsoft.ai/events/67862-china-inks-5b-deals-for-purchase-of-u-s-soy.md) | -0.3% | +1.5% |
| SOY | 2020-05-12 | [China Steps Up US Soybean Buying With Million-Ton Purchase - TT](https://feedsoft.ai/events/52986-china-steps-up-us-soybean-buying-with-million-ton-purchase-tt.md) | -0.9% | +1.3% |
| SOY | 2023-08-08 | [China's soybean imports up 15% in January-July - Chinadaily.com.cn](https://feedsoft.ai/events/14824-china-s-soybean-imports-up-15-in-january-july-chinadaily-com-cn.md) | -1.7% | -4.6% |

## Sources

- global.chinadaily.com.cn: https://global.chinadaily.com.cn/a/202310/28/WS653c5f63a31090682a5eb343.html

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