Trade is certainly a hot topic among the agricultural community, with farmers and ranchers facing concerns on a number of fronts. However, Faith Parum, an economist with the American Farm Bureau Federation, said there has been some important progress with one of our nation’s largest trading partners.
"China has agreed to purchase 12 million metric tons of soybeans before January, and at least 25 million metric tons annually for the next three years, of soybeans," Parum said. "They've also said that they're going to resume purchases of other ag products, but no official announcements have been made. In addition, the United States has removed the Chinese port fees on any Chinese-owned and -operated ships, so that should help tensions be relieved."
The administration also announced several smaller deals, including agreements with Malaysia, Cambodia, Thailand, and Vietnam.
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