# China needs 'explosive' buying to meet U.S. farm import target

> Chinese buyers purchased more than $500 million of U.S. corn in the first half of July. Importers are thought to have nearly filled their WTO corn import quotas, and China's domestic crop is due for harvest from September.

- Date: 2020-07-30 · published 2020-07-30T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/51979-china-needs-explosive-buying-to-meet-u-s-farm-import-target
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Reaching the U.S. farm import target now needs a faster pace of buying, but quota limits and the coming domestic harvest may cap demand. That mix leaves the outlook for corn and soybean prices uncertain.

## Read by commodity

- SOY: bullish ▲
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-09-22 | [U.S. Weekly Export Sales to China Notable in Wheat, Meats - Pro Farmer](https://feedsoft.ai/events/14904-u-s-weekly-export-sales-to-china-notable-in-wheat-meats-pro-farmer.md) | -2.8% | +1.3% |
| CORN | 2018-08-10 | [China expects its U.S. agricultural imports to fall sharply - Grainews](https://feedsoft.ai/events/63520-china-expects-its-u-s-agricultural-imports-to-fall-sharply-grainews.md) | -7.5% | -9.1% |
| CORN | 2021-08-30 | [WTO to examine U.S.-China dispute on grain import quotas](https://feedsoft.ai/events/45413-wto-to-examine-u-s-china-dispute-on-grain-import-quotas.md) | -6.1% | -11.6% |
| CORN | 2021-06-30 | [Report: China Changes Buying Tactics \| Feed & Grain](https://feedsoft.ai/events/46561-report-china-changes-buying-tactics-feed-and-grain.md) | -0.4% | -10.6% |
| CORN | 2017-11-23 | [China's pig farmers go north, upending world's top meat, grain market](https://feedsoft.ai/events/67972-china-s-pig-farmers-go-north-upending-world-s-top-meat-grain-market.md) | -0.4% | +5.6% |
| SOY | 2020-05-14 | [China likely to speed up buying of U.S. farm goods: COFCO exec](https://feedsoft.ai/events/52981-china-likely-to-speed-up-buying-of-u-s-farm-goods-cofco-exec.md) | +1.3% | +3.6% |
| SOY | 2021-10-05 | [China’s buying — and U.S. farms cashing in](https://feedsoft.ai/events/44412-china-s-buying-and-u-s-farms-cashing-in.md) | -0.6% | +0.1% |
| SOY | 2019-09-24 | [China gives waivers to importers to buy U.S. soy exempt from tariffs: sources](https://feedsoft.ai/events/56921-china-gives-waivers-to-importers-to-buy-u-s-soy-exempt-from-tariffs-sources.md) | +1.5% | +4.6% |

## Sources

- reuters.com: https://www.reuters.com/article/us-usa-trade-china-agriculture-analysis/china-needs-explosive-buying-to-meet-u-s-farm-import-target-idUSKCN24V04R/

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