# Concrete results emerge from Sino-US 100-day action plan with huge food deal - Global Times

> A Chinese delegation signed agreements to buy 12.53 million tons of US soybeans and 371 tons of US beef and pork, valued at $5.01 billion. The beef purchase followed China's lifting of a 14-year ban on US beef. The soybean deal covers nearly all of Iowa's annual crop, about 10% of total US soybean exports.

- Date: 2017-07-16 · published 2017-07-16T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/69819-concrete-results-emerge-from-sino-us-100-day-action-plan-with-huge-food-deal
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A purchase of this size absorbs a large share of US export supply and supports soybean futures and basis. Buyers should expect firmer US soybean and meal prices while the commitment is shipped.

## Read by commodity

- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-02-23 | [Exclusive: US soybean industry pleased with phase 1 trade deal fulfillment, hopes trade continue to offer win-win results - Global Times](https://feedsoft.ai/events/14867-exclusive-us-soybean-industry-pleased-with-phase-1-trade-deal-fulfillment-hopes.md) | -2.3% | -5.9% |
| SOY | 2020-01-15 | [China to significantly increase U.S. soybean imports after Phase 1 deal: Global Times](https://feedsoft.ai/events/54942-china-to-significantly-increase-u-s-soybean-imports-after-phase-1-deal-global.md) | -1.6% | -3.9% |
| SOY | 2026-04-28 | [EU GMO detection reports pressure Argentine meal basis, fuel CBOT's rally \| S&P Global](https://feedsoft.ai/events/12283-eu-gmo-detection-reports-pressure-argentine-meal-basis-fuel-cbot-s-rally-s-and.md) | +2.6% | +0.7% |
| SOY | 2026-05-14 | [Trump asks China to increase imports of US farm, food commodities \| S&P Global](https://feedsoft.ai/events/14581-trump-asks-china-to-increase-imports-of-us-farm-food-commodities-s-and-p-global.md) | -1.3% | -8.2% |
| SOY | 2021-08-26 | [China, US maintain trade contract - Global Times](https://feedsoft.ai/events/45417-china-us-maintain-trade-contract-global-times.md) | -5.1% | -4.6% |

## Sources

- globaltimes.cn: https://www.globaltimes.cn/page/201707/1056562.shtml

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