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China Purchases Will Be "Very, Very Good"

U.S. Ag Secretary Sonny Perdue says he expects farmers to see immediate benefits from a trade deal with China. 
 
"I think the numbers that we are looking at and discussing with China on purchase numbers will be very, very good and we think it will be multiples of what they've done in the past." 
 
He says ag exports to China would help with their trade deficit with the U.S. 
 
"The message to China is, 'You're already importing these products, why not import them from us?'" 
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Next week’s USDA reports (acreage/stocks) could be a surprise/market moving. RVO’s (new blending biofuel requirements) were as expected with no big surprises and already baked into futures. E15 summer waiver just simply good optics. Markets are skeptical that the war in Iran ends soon with no diplomatic off ramp. The Trump/Xi meeting in China now May 14 – 15. March 1 USDA hogs and Pigs report was friendly/bullish + CFTC and more.