Perdue expects China to buy U.S. beans spring/summer
Ag Secretary Sonny Perdue says he expects China to come into the market for U.S. soybeans at the time of year it would normally buy them.
“We believe that China is a shrewd consumer. They’re going to buy where the best deal is. This time of year, they buy soybeans from Brazil. We think they’ll come into this market in late spring and summer and fulfill the commitments. But, we’ll be looking.”
Perdue told House Ag committee members Wednesday there are some positive signs, “We see good, encouraging signs of China doing things underneath from a technical resolution of some of the non-tariff trade barriers that are encouraging.”
Even with the unknowns of the coronavirus, Perdue testified USDA remains optimistic and hopeful China will live up to its phase-one trade deal obligations.