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The U.S. shipped record volumes of soybeans and corn to China during the final quarter of 2020, AgriCensus reported from U.S. Census Bureau data on Feb. 5.
The US shipped 23.11 million tons of soybeans to China during the last quarter of 2020, bringing total annual exports to 34.57 million tons.
Although soybean shipments reached record levels this period, total exports fell short of 2016's record of 36.05 million tons, but surpassed the 22.61 million tons exported in 2019, AgriCensus said.
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Soybean shipments in December reached 6.82 million tons, which was a record for that month, but slightly below the 7.8 million tons recorded in the previous month.
Meanwhile, U.S. corn shipments to China last quarter also hit a record 3.91 million tons, bringing the 2020 total to 6.93 million tons, AgriCensus wrote.
Data showed the US shipped a record US$26.43 billion worth of agricultural products in 2020, AgriCensus said, with more than half shipped during the last quarter. While this number was higher than the US$ 20.83 billion exported in the 2017 base year – as established in the phase one trade agreement between the US and China – trade in 2020 fell short of the first year target of US$ 33. 3 billion.
This text was automatically translated from English.
Source: OFI Magazine
