# China buys more US farm products amid plunge in trade

> China Customs reported that Q1 2020 imports of US agricultural products reached 35.56 billion yuan, roughly double a year earlier, with soybean imports doubling and pork imports rising more than sixfold. Chinese exports to the US fell 23.6% over the same quarter.

- Date: 2020-04-14 · published 2020-04-14T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/53503-china-buys-more-us-farm-products-amid-plunge-in-trade
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Cottonseed Meal](https://feedsoft.ai/c/CSM.md)

## Why it matters

Strong Chinese purchases of US soybeans and pork support US soybean and hog demand under the phase one deal. The data confirms follow-through on commitments.

## Read by commodity

- CSM: neutral
- SOY: bullish ▲
- HOGS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-02-21 | [China proposes to buy $30 billion more in U.S. ag products](https://feedsoft.ai/events/60475-china-proposes-to-buy-30-billion-more-in-u-s-ag-products.md) | +0.1% | +0.4% |
| SOY | 2019-07-01 | [What extra U.S. farm products could China buy?](https://feedsoft.ai/events/57950-what-extra-u-s-farm-products-could-china-buy.md) | -2.7% | -1.6% |
| SOY | 2021-02-01 | [China buys U.S. ag products, helps boost market prices - Texas Farm Bureau](https://feedsoft.ai/events/48477-china-buys-u-s-ag-products-helps-boost-market-prices-texas-farm-bureau.md) | -0.2% | +1.6% |
| SOY | 2018-12-03 | [Soybeans jump after China agrees to buy 'substantial' US ag products in trade truce](https://feedsoft.ai/events/11522-soybeans-jump-after-china-agrees-to-buy-substantial-us-ag-products-in-trade.md) | +1.7% | +0.0% |
| SOY | 2019-09-13 | [China adds some US farm products for additional tariff exemption](https://feedsoft.ai/events/56923-china-adds-some-us-farm-products-for-additional-tariff-exemption.md) | +1.1% | +4.6% |
| HOGS | 2019-03-15 | [China Buys Most US Pork in Two Years as Futures Extend Rally - TT](https://feedsoft.ai/events/60242-china-buys-most-us-pork-in-two-years-as-futures-extend-rally-tt.md) | +13.9% | +26.1% |
| HOGS | 2019-10-18 | [China's pork shortage could give US farmers a chance to cash in](https://feedsoft.ai/events/56566-china-s-pork-shortage-could-give-us-farmers-a-chance-to-cash-in.md) | -2.8% | -7.0% |
| HOGS | 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) | +1.2% | -10.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/04/14/china-buys-more-us-farm-products-amid-plunge-in-trade.html

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