Speaking at the CHS Annual Meeting, Advance Economic Solutions President Bill Lapp said the trade relationship between the United States and China is tentative at best. “I think they’re only reluctantly purchasing our soybeans based on a trade deal that is nominal at this point,” said Lapp. “They’re going to buy most of what they promised with the 12 million tons, but I wonder if we’ll ever get back to where we were before.” Looking forward over the next five years, Lapp said there are too many unknowns. “Will Russia continue to be a dominant force in wheat exports? Will China resume exports of U.S. agricultural products over that time, either due to demand or because of better trade policy? Will Southeast Asia continue to grow as a market opportunity that pushes our trade balance in agriculture back positive?”
