# China's purchase of US soybeans spike in Jan-Feb under phase one deal

> China bought 6 million metric tons of US soybeans in January and February 2020, up 500% year on year, while its purchases of Brazilian beans fell 26%. The purchases were part of China's phase one trade deal commitments, and soybeans were added to the list of products eligible for tariff exclusions.

- Date: 2020-03-25 · published 2020-03-25T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/53995-china-s-purchase-of-us-soybeans-spike-in-jan-feb-under-phase-one-deal
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Heavier Chinese buying of US beans supports US soybean export demand and pulls supply away from Brazil, which is supportive for soybean and soymeal prices.

## Read by commodity

- SBM: neutral
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2019-02-01 | [Soybean Futures Rise on China Purchase Plans  - WSJ](https://feedsoft.ai/events/60618-soybean-futures-rise-on-china-purchase-plans-wsj.md) | -0.2% | -1.7% |
| SOY | 2023-10-28 | [Hebei firm inks $3 billion US soybean purchase deal - Chinadaily.com.cn](https://feedsoft.ai/events/14809-hebei-firm-inks-3-billion-us-soybean-purchase-deal-chinadaily-com-cn.md) | +2.3% | +2.5% |
| SOY | 2019-12-10 | [Soybeans extend gains as Chinese purchases stir hopes of U.S.-China deal \| Financial Post](https://feedsoft.ai/events/12382-soybeans-extend-gains-as-chinese-purchases-stir-hopes-of-u-s-china-deal.md) | +2.8% | +4.6% |
| SOY | 2019-12-10 | [China steps up US soybean purchases as trade talks drag on](https://feedsoft.ai/events/55447-china-steps-up-us-soybean-purchases-as-trade-talks-drag-on.md) | +2.8% | +4.6% |
| SBM | 2019-02-01 | [Soybean Futures Rise on China Purchase Plans  - WSJ](https://feedsoft.ai/events/60618-soybean-futures-rise-on-china-purchase-plans-wsj.md) | -1.5% | -2.2% |
| SBM | 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) | -0.8% | +8.2% |
| SBM | 2020-06-02 | [China buys U.S. soybeans after halt to U.S. purchases ordered: sources](https://feedsoft.ai/events/52462-china-buys-u-s-soybeans-after-halt-to-u-s-purchases-ordered-sources.md) | +1.9% | -0.9% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/032520-chinas-purchase-of-us-soybeans-spike-in-jan-feb-under-phase-one-deal

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