China’s purchases of American agriculture products are picking up.
The USDA says deals for U.S corn amount to a sale of 22.33 million bushels for the second quarter.
So, where are we for the fiscal year at this point?
When taking a look at fiscal year trade numbers from October through February, agricultural exports to China are $7.2 billion, compared to the same time period in 2019, $3.1 billion.
Bart Kinner, USDA Economist and Trade Tracker, said the U.S. is also selling more soy beans to China, despite a slump in February.
“China is still up from 2019 fiscal year-to-date 195%.”
Total U.S. exports of cotton to the rest of the world up about 15%, however, “a big part of that increase is a 55% increase in exports to China.”
The USDA says it will continue to watch export numbers and see how the coronavirus will impact trade with China and the rest of the world.
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