China has made another record-breaking U.S. corn purchase, according to USDA data released Thursday. The sale of 1.937 million metric tons is some much-needed good news for U.S. farmers weathering low prices, reduced demand and high stocks, says Kevin Ross, president of the National Corn Growers Association.
President Donald Trump on Thursday issued another veiled threat to the U.S.-China “phase one” trade pact as the relevancy of the deal comes under question with perhaps just months left in the Trump presidency.
China’s livestock sector is booming even as the country recovers from African swine fever, and the country’s demand for feed is fueling optimism for U.S. corn and soybean exports in the 2020-21 marketing year, which begins Sept. 1.
The Washington offices of the U.S. Trade Representative are buzzing as collaboration with China over the “phase one” deal continues and final preparations are made for the launch of the U.S.-Mexico-Canada Agreement, but Chief Agricultural Negotiator Gregg Doud said he expects both deals will lead to increased sales of U.S. farm products.
Former National Security Advisor John Bolton is accusing President Donald Trump of asking Chinese President Xi Jinping to help Trump get reelected by agreeing to increase purchase of U.S. soybeans and other farm commodities.
China will fully comply with its promises to buy U.S. ag commodities and the U.K. will be held to demands that it lift barriers on American farm products, U.S. Trade Representative Robert Lighthizer told lawmakers Wednesday.
Ahead of a pair of congressional hearings, farm groups and agribusiness interests are urging President Donald Trump to give the Chinese time to fulfill their promises to increase purchases of U.S. agricultural commodities.
China, despite economic woes and its battle with COVID-19, is buying more foreign dairy this year, but the increased imports are doing far less for U.S. producers than the industry had hoped for after the “phase one” trade pact went into effect in February.