# China proposes to buy $30 billion more in U.S. ag products

> Bloomberg reported that China proposed buying an additional $30 billion a year of U.S. farm products, including soybeans, corn and wheat, above pre-trade-war levels. The offer forms part of memoranda of understanding under discussion in Washington. Officials are also discussing removing anti-dumping and anti-subsidy duties on distillers dried grains.

- Date: 2019-02-21 · published 2019-02-21T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/60475-china-proposes-to-buy-30-billion-more-in-u-s-ag-products
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

A standing annual purchase commitment across several grains would tighten U.S. export balances if it is delivered. Removing duties on DDGS would open a feed-ingredient export channel that could lift U.S. DDGS prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- DDGS: bullish ▲
- WHEAT: 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 | 2020-04-14 | [China buys more US farm products amid plunge in trade](https://feedsoft.ai/events/53503-china-buys-more-us-farm-products-amid-plunge-in-trade.md) | -3.2% | -0.2% |
| SOY | 2021-11-03 | [China Willing to Buy $20 Billion of U.S. Ag in Year One - The Scoop](https://feedsoft.ai/events/14981-china-willing-to-buy-20-billion-of-u-s-ag-in-year-one-the-scoop.md) | -3.6% | -1.3% |
| 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 | 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% |
| 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 | 2021-11-03 | [China Willing to Buy $20 Billion of U.S. Ag in Year One - The Scoop](https://feedsoft.ai/events/14981-china-willing-to-buy-20-billion-of-u-s-ag-in-year-one-the-scoop.md) | +1.2% | -1.3% |
| 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

- farmprogress.com: https://www.farmprogress.com/marketing/china-proposes-to-buy-30-billion-more-in-u-s-ag-products

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