WASHINGTON, D.C. – While political tensions between the U.S. and China have increased these past months, it hasn’t affected U.S. agricultural trade to a great degree. Recent sales of U.S. corn and sorghum followed up a record year of China beef exports and China has also been back in the soybean export market.
According to AgWeb, Jim Sutter, CEO, U.S. Soybean Export Council said Chinas has been back as a major player. He said that while the diplomatic relationship is currently stormy, the ag trade situation is good.
Chinese business accounts for nearly 62 percent of the 1.82 billion bushels of U.S. soybean export commitments to date. Sutter said that’s evidence the relationship between the U.S. and China on a business-to-business level is solid and isn’t being impacted by high-level politics.
Trade missions have also resumed post COVID and although U.S. soybeans are still subject to tariffs, Sutter says China has been issuing import certificates. This is further evidence of their desire to buy U.S. soybeans.
Right now soybean exports to China have slowed, which is normal this time of year as South America’s crop is harvested and comes to market and especially since Brazil is forecasted to have record supplies.
