FAST FIVE: Trump's $50 Billion Farm Deal Is Fantasy After Trade War Market Shifts
In fact, there is a question as to whether or not this much product can be produced.
Trump (@realDonaldTrump) October 12, 2019 Agricultural analysts said even if China agreed to purchase additional US agriculture products, the numbers that the Trump administration uses are incorrect.
With soybean prices falling from $13 per bushel two years ago to $9 today, “even if they [China] bought the same amount they did before the trade war, it's just not going to make the same dollar value,” Friedrichs added.
From the US too, diversification has been the order of the day.” Chinese buyers are rushing to diversify away from the US and have signed landmark deals with Argentina and Brazil for corn and soybean.
John Reeve, director at Agree Commodities Australia, said China sourced very little beef from Australia in 2012 — but at present day, China is purchasing an unbelievable amount, as it continues diversifying from the US.