Analysts Waiting For China To Act On Phase One Trade Deal

Analysts in the U.S. are waiting on the Chinese to make their move.

 

Dan Basse is president of AgResource Company in Chicago.

 

"We have this phase one agreement, the agreement was signed on the 15th of January. There's a 30-day period to implement that agreement. That means February 15th, which is this weekend. So next week we'll really start to see if the Chinese have any intentions of buying U.S. grains or ag products. It will be very important to the markets. There may be a little bit of flexibility to coronavirus, but overall the traders here want to see, taste and feel the Chinese demand before they get too rambunctious on the long side of the market."

 

The USDA released its February WASDE report Tuesday morning, which Basse says was very conservative with estimates about the Chinese phase one agreement.

Video: Finally We Are On The Fields Planting Corn!

It seems like it was a long-time coming but we are finally on the fields planting corn. Cold, wet weather has made working the land and planting the first of our crops and difficult proposition but today we got at least one corn field done. Join us at Ewetopia Farms as we use old methods to get corn planted. This corn will feed our sheep for another year and heat our home!