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Joined: Apr 2003
Posts: 4,002 Likes: 10
10 point
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10 point
Joined: Apr 2003
Posts: 4,002 Likes: 10 |
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. Ok, so it sounds like the trade war was the problem not really this agreement. The agreement just means they can't quit buying all together and therefore isn't super effective as a boost to the ag business. Correct? Trying to learn the basics. Thanks for the help.
"We aren't here to justify your feelings and give you self worth" - Aldeer Welcome Center
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