U.S. farmers hope China continues to like pork and beans, and a lot of them.
Since President Trump and Chinese President Jinping have agreed to a temporary trade truce, China has promised to buy large amounts of Ag products from U.S. farmers.
Soybeans are likely to be on top of the list. Soybean farmers have been hit hardest by Trump’s trade war because China was once the top export market for U.S. soybeans. Beijing bought another 544,000 metric tons last week, its largest buy since March.
Pork might be another key item on the list, as pork producers have also been hit hard by the trade feuds, especially with China and Mexico. As African Swine Fever continues to ravage China’s once-giant herds, Beijing could now turn to U.S. hog farmers to fill in the country’s appetite for protein.
Farmers would like to sell a lot of ethanol to China, but current tariffs imposed by China make that almost impossible.
AUDIO: Money Matters 7-4-19