# U.S. December trade data reveals massive shortfall in China's 'Phase 1' purchases

> U.S. trade data for December showed a large shortfall in China's purchases under the Phase 1 agreement. The USTR said it had seen no real progress on purchase commitments and that patience was wearing thin.

- Date: 2022-02-08 · published 2022-02-08T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/14953-u-s-december-trade-data-reveals-massive-shortfall-in-china-s-phase-1-purchases
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Persistent under-buying by China removes expected export demand for U.S. soybeans and corn, which weighs on U.S. prices and feed grain availability.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-12-23 | [China to fall short on promises to U.S. as trade deal ends](https://feedsoft.ai/events/14969-china-to-fall-short-on-promises-to-u-s-as-trade-deal-ends.md) | -0.1% | +6.4% |
| SOY | 2020-01-16 | [China's 'market condition' caveat on U.S. ag purchases adds to trade deal doubts](https://feedsoft.ai/events/54944-china-s-market-condition-caveat-on-u-s-ag-purchases-adds-to-trade-deal-doubts.md) | -2.1% | -3.5% |
| SOY | 2022-02-09 | [Plunge in U.S. soy exports to China in 2021 exposes Phase 1 flaws  \| Reuters](https://feedsoft.ai/events/14955-plunge-in-u-s-soy-exports-to-china-in-2021-exposes-phase-1-flaws-reuters.md) | -1.1% | +7.5% |
| SOY | 2019-08-23 | [Trade war: US official says China far short of soybean purchase pledge](https://feedsoft.ai/events/57439-trade-war-us-official-says-china-far-short-of-soybean-purchase-pledge.md) | +0.0% | +3.1% |
| SOY | 2018-11-30 | [U.S. Ag Sales to China to Fall by 45% in Trade War](https://feedsoft.ai/events/61933-u-s-ag-sales-to-china-to-fall-by-45-in-trade-war.md) | +3.3% | -0.5% |
| CORN | 2021-12-23 | [China to fall short on promises to U.S. as trade deal ends](https://feedsoft.ai/events/14969-china-to-fall-short-on-promises-to-u-s-as-trade-deal-ends.md) | -0.7% | +3.1% |
| CORN | 2020-01-16 | [China's 'market condition' caveat on U.S. ag purchases adds to trade deal doubts](https://feedsoft.ai/events/54944-china-s-market-condition-caveat-on-u-s-ag-purchases-adds-to-trade-deal-doubts.md) | +0.7% | -1.7% |
| CORN | 2023-04-25 | [China's move to cancel US corn purchases leaves Asian traders in split](https://feedsoft.ai/events/14848-china-s-move-to-cancel-us-corn-purchases-leaves-asian-traders-in-split.md) | -2.4% | -6.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia/us-december-exports-china-drop-cementing-phase-1-purchases-shortfall-2022-02-08/

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