# China reportedly offered to buy nearly $70 billion of US agriculture, energy products

> The Wall Street Journal reported that Chinese negotiators offered a package of nearly $70 billion in U.S. farm and energy purchases, including soybeans, corn, crude oil and coal, if Washington backs off tariffs. The talks followed a Beijing visit by Commerce Secretary Wilbur Ross.

- Date: 2018-06-05 · published 2018-06-05T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/64397-china-reportedly-offered-to-buy-nearly-70-billion-of-us-agriculture-energy
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A potential purchase package would support U.S. soybean and corn demand and energy exports, but it is only a proposal and depends on tariff relief, so the price effect is limited for now.

## Read by commodity

- SOY: bullish ▲
- WTI: bullish ▲
- CORN: 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 | 2019-02-21 | [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 | 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) | -1.6% | -3.9% |
| SOY | 2018-05-21 | [Trade truce with China could boost US beef, soybeans and other agriculture products](https://feedsoft.ai/events/64915-trade-truce-with-china-could-boost-us-beef-soybeans-and-other-agriculture.md) | +4.3% | -9.0% |
| 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% |
| 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 | 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) | -0.3% | +2.0% |
| CORN | 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) | +0.3% | -2.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/06/05/china-reportedly-offered-to-buy-nearly-70-billion-of-us-agriculture-energy-products.html

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