Johansson Anticipates Better Trade In 2020

As we told you earlier this week, the USDA is expecting Ag exports to rebound this year.

“U.S. Ag exports are forecast at $139.5 billion, that's up 4 billion from last year,” said USDA Chief Economist Rob Johansson. “China we're forecasting right now at $14; up billion up from $10 billion last year.

However, that forecast was for the fiscal year that began in October; months before the signing of the U.S./China Trade Deal. And the trade agreement commitments by China were made for the calendar year. Because of that, Ag Secretary Sonny Perdue says the as far as the $14 billion purchase figure for China, the U.S. can expect to exceed that in this calendar year. The wild card, he noted, the coronavirus.

“We think they will come, I'm hoping certainly by the spring,” Perdue said last week. “How long the coronavirus is gonna last I don't know, but we hope it's on the decrease.”