Although China has yet to fulfill its Phase One promises of mammoth purchases of U.S. farm exports, “the fact is, they need us,” said Agriculture Secretary Tom Vilsack during a digital news conference. Adding that, with China back in the U.S. market, commodity prices are high enough that, “I’m not sure there’s necessarily a need for any trade-related assistance [to farmers] at this point.”
According to a report atSuccessful Farming, the mood in farm country is more sanguine, boosted by a commodity rally that started last summer.
Farmers are expected to expand corn and soybean plantings by 5% this spring from last year’s 173.9 million acres. The USDA forecasts China will regain its spot as the No. 1 customer for U.S. farm exports this year. It bought $850 million worth of American corn in the same week that ended with the acrimonious Alaska meeting.
