# China to purchase $36 bil of US agricultural products in 2020, $43 bil in 2021: governments | S&P Global

> Under the Phase 1 deal signed January 15, China committed to buy $36.3 billion of US farm products in 2020 and $43.3 billion in 2021, according to a joint statement. Soybeans are the largest component, and pork, sorghum, corn and distillers' grains could also rise.

- Date: 2020-01-15 · published 2020-01-15T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/54943-china-to-purchase-36-bil-of-us-agricultural-products-in-2020-43-bil-in-2021
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

The large purchase commitment, roughly 50% above 2017 levels, is a major structural demand signal for US soybeans and feed grains, supporting prices over the coming years.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- DDGS: bullish ▲
- HOGS: bullish ▲
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-02-21 | [China to propose $30 billion more US agriculture purchases](https://feedsoft.ai/events/60478-china-to-propose-30-billion-more-us-agriculture-purchases.md) | +0.1% | +0.4% |
| SOY | 2019-07-28 | [Progress made in Chinese enterprises' purchase of U.S. agricultural products - Xinhua \| English.news.cn](https://feedsoft.ai/events/57951-progress-made-in-chinese-enterprises-purchase-of-u-s-agricultural-products.md) | -3.7% | -4.5% |
| SOY | 2023-10-24 | [China signs US agriculture purchase agreements in first ceremony in years](https://feedsoft.ai/events/14802-china-signs-us-agriculture-purchase-agreements-in-first-ceremony-in-years.md) | -0.3% | +6.3% |
| SOY | 2018-06-05 | [China reportedly offered to buy nearly $70 billion of US agriculture, energy products](https://feedsoft.ai/events/64397-china-reportedly-offered-to-buy-nearly-70-billion-of-us-agriculture-energy.md) | -4.8% | -15.3% |
| 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% |
| CORN | 2019-02-21 | [China to propose $30 billion more US agriculture purchases](https://feedsoft.ai/events/60478-china-to-propose-30-billion-more-us-agriculture-purchases.md) | -0.3% | +2.0% |
| CORN | 2023-10-24 | [China signs US agriculture purchase agreements in first ceremony in years](https://feedsoft.ai/events/14802-china-signs-us-agriculture-purchase-agreements-in-first-ceremony-in-years.md) | -4.3% | -4.8% |
| CORN | 2018-06-05 | [China reportedly offered to buy nearly $70 billion of US agriculture, energy products](https://feedsoft.ai/events/64397-china-reportedly-offered-to-buy-nearly-70-billion-of-us-agriculture-energy.md) | -3.0% | -8.0% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/011520-china-to-purchase-36-bil-of-us-agricultural-products-in-2020-43-bil-in-2021-governments

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