# China asks state firms to halt purchases of U.S. soybeans, pork, sources say

> China has told state-owned firms to halt large purchases of US soybeans and pork, according to two people familiar with the matter. Large state purchases of US corn and cotton have also been put on hold. The move followed Washington's plan to eliminate special treatment for Hong Kong.

- Date: 2020-06-01 · published 2020-06-01T12:00:00.000Z
- Category: trade · region China · magnitude high
- Page: https://feedsoft.ai/events/52463-china-asks-state-firms-to-halt-purchases-of-u-s-soybeans-pork-sources-say
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Cottonseed Meal](https://feedsoft.ai/c/CSM.md)

## Why it matters

A halt in Chinese state buying removes a major source of US export demand for soybeans, corn and pork, which is bearish for US prices. Further escalation could widen the halt to more farm goods.

## Read by commodity

- CSM: neutral
- SOY: bearish ▼
- CORN: bearish ▼
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-08-01 | [China’s U.S. Soybean Purchases Slump to 2004 Low](https://feedsoft.ai/events/57948-china-s-u-s-soybean-purchases-slump-to-2004-low.md) | -1.8% | -1.3% |
| SOY | 2026-08-01 | [Tariffs, in the way of larger China purchases of US soybeans: market sources](https://feedsoft.ai/events/18362-tariffs-in-the-way-of-larger-china-purchases-of-us-soybeans-market-sources.md) | -1.3% | +8.9% |
| SOY | 2023-09-22 | [China cuts soybean purchases from the US in August](https://feedsoft.ai/events/14811-china-cuts-soybean-purchases-from-the-us-in-august.md) | +0.5% | +1.7% |
| SOY | 2018-05-09 | [China cutting US soybean purchases in face of tariffs threat \| AP News](https://feedsoft.ai/events/64913-china-cutting-us-soybean-purchases-in-face-of-tariffs-threat-ap-news.md) | +0.7% | -1.7% |
| 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% |
| CORN | 2019-05-30 | [China Halts U.S. Soybean Purchases, While USMCA Prospects Unfold Under a new Threat of Tariffs on Mexico - Farm Policy News](https://feedsoft.ai/events/58950-china-halts-u-s-soybean-purchases-while-usmca-prospects-unfold-under-a-new.md) | -0.9% | +6.0% |
| CORN | 2019-08-14 | [Soybean prices rise on U.S.-China trade hopes \| Financial Post](https://feedsoft.ai/events/11472-soybean-prices-rise-on-u-s-china-trade-hopes-financial-post.md) | -1.2% | -4.0% |
| CORN | 2024-07-03 | [China’s 2024 US ag purchases of soybeans, corn trailing previous two years \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/14732-china-s-2024-us-ag-purchases-of-soybeans-corn-trailing-previous-two-years-an.md) | +0.7% | -0.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/06/01/china-asks-state-firms-to-halt-purchases-of-us-soybeans-pork-sources-say.html

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