An American Farm Bureau economist says the recent buying of U.S. new crop commodities by China is drawing a lot of interest but there are still concerns.
Veronica Nigh tells Brownfield sales as of August sixth for U.S. soybeans during that week in the last five years are ahead. Corn sales were also ahead but not as significantly as beans because of the expected huge corn crop.
“That’s not necessarily that’s indicative that we’re going to have a huge export year but it does certainly suggest that there’s a lot of interest in folks out there trying to feel out the market and secure some necessary commodities for themselves.”
But Nigh says the Trump administration’s cancelling of the six-month review of ag sales to China – part of the phase one trade agreement – is a concern.
