U.S. farmers cheered the Trump administration's announcement of a potential...
CHICAGO - U.S. farmers cheered the Trump administration’s announcement of a potentially dramatic increase in U.S. agricultural sales to China on Friday but warned they needed to see a follow-through of actual purchases.
Farmers, who relied on China as the top buyer for U.S. soybeans and sorghum and a key market for pork and dairy, have seen their incomes plummet during the 15-month conflict of tit-for-tat tariffs between the world’s two largest economies. “We’re encouraged by the news of a trade deal with China and look forward to learning the details,” Tyson Foods spokesman Gary Mickelson said.
China has mainly relied on Brazil and Argentina for soybean imports it uses to feed livestock for nearly a year and a half, but the preliminary deal could shift trade flows to the United States. Even so, South American growers said a deal would bring needed stability to global markets. “We are encouraged that both sides are at the negotiating table because it is important to reopen this market for American farmers,” global commodity trader Cargill Inc said in an emailed statement.
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