China’s purchases of U.S. farm commodities still lags behind targets set in the Phase One Trade Agreement. China’s year to date total imports of covered products from the U.S. were $75.5 billion compared with a prorated year to date target of $137.3 billion. Iowa Soybean Association President Jeff Jorgenson says he’s not as confident of China reaching that target as he is hopeful at this point.
He says with a new Presidential administration coming in, there’s a lot of uncertainty and unknowns as to what might happen with trade with China.
Jorgenson says America’s soybean growers have several potential market possibilities going forward with China remaining the biggest.
Jorgenson says they’ll be working with the Biden administration as well as with new members of Congress and likely new U.S. trade officials coming up in 2021.
