China has concluded contracts for the purchase of soy and corn in the United States

Private suppliers of corn and soybeans sent to the US Department of Agriculture that they were able to sign export contracts to send their products to China, reports Reuters.

We are talking about the sale and transportation of 202 thousand tons of corn and 126 thousand tons of soybeans to Chinese customers.

The implementation of these contracts for the delivery of agricultural raw materials is planned from September 1, that is, from the new marketing year. A stumbling block for US feed and food exporters was the lack of a food safety declaration endorsed by the Chinese authorities. However, this problem was successfully resolved.

However, many market participants consider this procedure unnecessary, arguing that COVID-19 is not transmitted from food to people.

Meanwhile

China in May this year imported a record volume of Ukrainian soybean oil, about 20 thousand tons. In total, from September to May, Ukrainian exports of soybean oil for the first time reached 260 thousand tons and exceeded the volume for the previous marketing year by 6 percent. Export to China amounted to 155 percent compared to the previous period, to Germany – 224 percent, to Poland the increase reached 44 percent. But Europe remains the main buyer of Ukrainian soybean oil, accounting for 46 percent of all exports of this product.