By Ryan Hanrahan
Reuters’ Ella Cao, Trevor Hunnicutt and Naveen Thukral reported that “China ?and the United States may reach a farm deal at their summit this week that expands Beijing’s purchases of grains and meat, but market watchers said they did not expect major new soybean purchases beyond what was agreed in a deal last October.”
“Agriculture is among the less-contentious areas of the bilateral relationship, but the final shape of any deliverables from the May 14-15 summit between U.S. President Donald Trump and his Chinese counterpart Xi Jinping ?remains uncertain just days out, officials, traders and analysts said,” according to Cao, Hunnicutt and Thukral’s reporting. “The White House is seeking bigger commitments from Beijing on soybean and ?other agricultural purchases, said a person familiar with the talks.”
Bloomberg’s Michael Hirtzer, Erin Ailworth, and Hallie Gu reported that “while farmers broadly expect an agriculture deal to be made at the summit, enthusiasm is waning that it will be large enough to transform tough economic conditions. They’re also more resigned to US crops becoming a chip in trade negotiations rather than part of an open market.”
“‘I’m a little apprehensive as to what will come out of it,’ said Scott Metzger, an Ohio grower and president of the American Soybean Association,” according to Hirtzer, Ailworth and Gu’s reporting. “‘We want to make sure that there is actually something signed and documented instead of just word of mouth.'”
“More thorny issues such as Iran and Taiwan will also be addressed at the summit, with executives from companies such as crop trader Cargill Inc. and Boeing Co. part of talks,” Hirtzer, Ailworth and Gu reported.
Source : illinois.edu