Chinese buyers ordered more than 750,000 metric tons of American corn Thursday and about 1 million metric tons of sorghum earlier in the week, LeGrand said.
On Friday, the U.S. Department of Agriculture announced China also bought about 340,000 metric tons of wheat.
These are the largest single purchases of wheat and sorghum China has made since imposing high retaliatory tariffs on U.S. farm goods in summer 2018, the groups say.
"The market has been waiting for this," said Steve Mercer, a spokesman for U.S. Wheat Associates, a trade organization for the wheat industry based in Arlington, Va. "We'll see where it goes."
Following the purchase, the price for wheat spiked from under $5 per bushel to more than $5.50, according to Chicago Mercantile Exchange figures.
Outfuckingstanding!
ReplyDeleteThat will help stimulate things.
ReplyDeleteEh. 1 bushel = 1 mask. Want to screw the world, well, Red China, this is the US Government and we are experts at bending people over and playing soap-dropping games with them. Admittedly, it's usually US Citizens...
ReplyDeleteI hope they got cash up front. In dollars, preferably.
ReplyDelete