Chinese official indicates trade talks with U.S. could resume “in the coming days”

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Chinese official indicates trade talks with U.S. could resume “in the coming days”

The Chinese Commerce Ministry indicates trade talks between the U.S. and China will resume soon.

A spokesman for the ministry says there will be a meeting “in the coming days,” but did not elaborate on when or where.

Plans to discuss the phase one agreement virtually last weekend were scrapped, which came as no surprise to CHS Hedging director of producer brokerage Kent Beadle.

“That doesn’t actually seem likely for two leaders at the levels of Robert Lighthizer and his counterpart in China, virtual meetings don’t tend to happen. Those are essentially state events, and those almost always take place in person.”

He tells Brownfield tensions between the U.S. and China probably won’t lessen until after the election.

“Right or wrong, there’s a political component to this. And the President is going to do what he thinks he needs to do and what is right in his reelection bid.”

Despite the friction, Beadle is encouraged by the increasing number of export sales to China.  He says that buying activity should be sustainable for at least a few months as Chinese stockpiles of corn and soybeans continue to shrink.

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