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The U.S.-China relations are at a low point, however China on Thursday made its biggest-ever U.S. corn order, putting a little damage in the approximately $10 billion in farming purchases it owes the U.S. as part of the trade offer.
On Thursday, the U.S. Department of Agriculture reported its largest-ever day-to-day corn selloff to China, recording that China had actually acquired 1.94 million tonnes of corn in a single day. It marked the third-largest one-day U.S. corn buy from any nation considering that 1977, surpassing China’s previous record purchase of 1.86 million tonnes, which it made 2 weeks back.
China is on an American corn-buying spree at a time when China’s farming buy from the U.S. might assist smooth over what’s an otherwise rocky relationship in between the 2 powers that are feuding over the coronavirus, human rights, and territorial claims in the South China Sea.
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In January, the U.S. and China signed the Phase 1 trade deal, a contract that looked for to start an end the two-year-long trade war. As part of the offer, China accepted …