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Joined: Nov 2014
Posts: 1,787
8 point
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8 point
Joined: Nov 2014
Posts: 1,787 |
No beans are down 15 and corn down 12 since it was signed yesterday. I'm not saying it wasn't a good start but they are only required to buy 32 billion of agriculture products over the next 2 years.
Categories listed:
Oilseeds
Meat
Cereal
Cotton
Other Ag commodities
Seafood
The above listed all fall under ag products in the agreement. The spending will be so widespread that its not going to change any one commodity very much. Its not going to rally prices for any of the above listed. Hopefully phase 2 brings better news.
I'm not 257 but I'm in the ag business too What had the requirements been before now? No requirements prior to this agreement but purchases were much larger up until 2016. The start of the trade war really hammered ag exports. China has purchased record numbers of South American soybeans in the last couple of years. I'm a Trump supporter and I know he means well. I hope the next phase will ensure even higher purchase amounts by China.
Last edited by Zkd22; 01/16/20 02:04 PM.
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