# China inks $5b deals for purchase of U.S. soy

> The U.S. soybean industry and China signed two new agreements during Trump's Asia trip. The first is a China Chamber of Commerce letter of intent for 8 million metric tons of U.S. soybeans worth $3.4 billion, and the second is an ADM-COFCO sale of 4 million metric tons worth $1.6 billion.

- Date: 2017-11-10 · published 2017-11-10T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/67862-china-inks-5b-deals-for-purchase-of-u-s-soy
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

These commitments of about 12 million tonnes raise expected Chinese soybean imports from the U.S., which supports soybean prices.

## Read by commodity

- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-03-25 | [China's purchase of US soybeans spike in Jan-Feb under phase one deal](https://feedsoft.ai/events/53995-china-s-purchase-of-us-soybeans-spike-in-jan-feb-under-phase-one-deal.md) | -0.1% | -5.9% |
| 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 | 2022-03-30 | [China soy purchase rumors trigger rally](https://feedsoft.ai/events/42294-china-soy-purchase-rumors-trigger-rally.md) | -0.7% | +5.1% |
| SOY | 2020-07-14 | [China books record U.S. corn purchase, also buys soybeans \| Reuters](https://feedsoft.ai/events/51978-china-books-record-u-s-corn-purchase-also-buys-soybeans-reuters.md) | +3.0% | +0.0% |

## Sources

- feedstuffs.com: https://www.feedstuffs.com/grain-market-news/china-inks-5b-deals-for-purchase-of-u-s-soy

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