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U.S. and China trade talks have limited grain market response
An extension ag economist says recent trade talks between the U.S. and China haven’t had much of an impact on the grain markets.
Ben Brown with the University of Missouri Extension says while there’s been some strength in the soybean market this week, “I could make a case here that some of the strength we’ve seen in the market is related to crop growth and development.”
U.S. Commerce Secretary Howard Lutnick said the U.S. and China reached a framework to implement a trade deal, following two days of meetings in London this week. It’s unclear how ag is included in the framework.
American Farm Bureau Federation President Zippy Duvall told Brownfield he’s optimistic the Trump administration’s work on trade will benefit U.S. agriculture.
“With China being our third largest trading partner, we need to find solutions to those challenges and work out a trade deal so we have open markets for our farmers.”
President Trump said on social media Wednesday the U.S. and China trade deal is done, subject to final approval from the two countries. He also says the U.S. is getting a total of 55 percent tariffs and China is getting 10 percent.
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