The Trump Administration says trade talks between the U.S. and China remain productive. Even if there is a trade agreement reached soon, NDSU Extension crops economist Frayne Olson says it would take a few weeks to see what the agreement really looks like and until there’s an official agreement, the grain markets may not respond. “There’s a lot of discussion going on, rumors flying around, but the market sure doesn’t pay attention to the rumors,” says Olson. “The markets are looking for confirmed sales.” When an agreement is reached, Olson says there will be more details to work out including monitoring and enforcing of the agreement. “In the agreement, they’ll have specific timelines. Likely that some changes will be phased in over time,” explains Olson. “A big unknown is what happens if goals aren’t met.” Trade discussions will continue May 8.
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