USDA Secretary Sonny Perdue this week said he is hopeful that China can meet its purchase commitments of U.S. farm products via the Phase One trade deal by February, the end of the first year of the deal.
Perdue said “it is going to be tough to meet those numbers ($36.5 billion first year). This is just purely a guess; we may reach it by the end of January before Brazil and South America come back into the marketplace.”
While there are hefty export sales on the books, Perdue said he wants to see shipments, saying China is known for booking and later cancelling sales. “It does appear they are trying, but it remains to be seen if we will make those numbers or not.”
Data for the week ended September 17 from USDA included the following export sales figure for China for 2020/21: Net sales of 566,427 metric tons of corn, 262,400 mt of sorghum, 1,879,091 mt of soybeans, 39,482 running bales of upland cotton, but net reductions of 600 metric tons of wheat. For 2020, USDA reported net sales of 3,396 metric tons of beef and 8,161 metric tons of pork.
Shipments of U.S. ag products to China also continues, with exports the week ending September 17 including 58,370 mt of wheat, 204,368 mt of corn, 71,552 mt of sorghum, 769,309 mt of soybeans, 117,690 running bales of upland cotton, 1,200 mt of beef and 10,943 mt of pork.
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