China booked deals to buy 522,000 tons of soybeans, the US Agriculture Department said on Thursday, the latest in a string of purchases by the world’s top buyer of US agricultural products, reported Reuters.
In a separate report on Thursday, the USDA said that export sales of corn to China totaled 1.37 million tons in the week ended July 9, the biggest weekly total on record. China also bought 323,739 tons of wheat that week, its biggest weekly total since March.
China said on Thursday it will stick to the Phase 1 trade deal it reached with the United States earlier this year but warned that it will respond to “bullying” tactics from Washington, as relations continue to deteriorate.
But China would need to dramatically ramp up buying of US farm products in the coming months to fulfill its Phase 1 commitment to import $36.5 billion in the first year of the deal, signed in January. US government data shows that China imported just over $6 billion worth of US farm goods from January to May.