How will China play into USDA’s next supply/demand forecast?
USDA’s acting ag outlook board chair says much like last month, China is not expected to have a significant role in Tuesday’s supply and demand forecast.
Mark Jekanowski says Chinese purchases have been relatively slow.
“Although they did make some pretty sizable purchases of sorghum. That shows that they are still in the market for US agricultural products. We haven’t seen any substantial purchases of soybeans, meat or livestock products.”
He says USDA is closely monitoring China’s supply and demand conditions adding that it is hard to tell if the slow pace of Chinese purchases since the phase one trade deal are from short term effects of coronavirus or some other longer-term change in their needs.
USDA’s new supply and demand forecast is out Tuesday at noon EST/11 CST.