Minor export market sales down, advanced sales could help
An ag economist says while most lost export attention is focused on China, sales to minor markets this year have also been cut back.
Aleks Schaefer with Michigan State University says the trade war wasn’t limited to just China with steel and aluminum tariffs and trade frictions still exist with other countries impacted by tariffs.
“Our biggest drop has been for our minor markets which have seen a 40 percent reduction relative to previous levels.”
Looking ahead, Schaefer says advanced soybeans export sales for the fall look favorable because of a weaker dollar.
“We’re above 2017/2018 levels so the future is looking potentially bright.”
Most of the advanced sales are booked by China as part of their phase one trade commitments.
Schaefer provided grain marketing highlights during the recent MSU Extension Virtual Breakfast.