US-China Deal. Positive Signals Grow

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USDA analysts are predicting an extra $1 billion worth of exports to China in 2020, even without a trade agreement in place.

USDA’s Chief Economist Rob Johansson says China is going to need not only more pork from the US, but also more soybeans.

“For a number of reasons, one of which is that they weren’t able to import as much from South America as we expected, but also because they are going to be building up their livestock sector after the impact of African Swine Fever.”

He says although there is some optimism towards a deal with China, the increased export forecast is not based on a potential deal or end to tariffs, but only on current circumstances when the projections were made.

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