When taking a look at the first eleven months of the 2020 fiscal year, China has purchased $14.2 billion worth of American ag products. That October through August window is 52% higher than what was reported in 2019. USDA economist and trade tracker, Bart Kenner, said of that $14 billion, a little under $5.5 billion of that coming in soybean purchases, a 17% year over year increase. But has Kenner noted, some other American producers reported even larger increases.
“Pork exports are up 327%. Corn is up 634%. Wheat and poultry products are both up.”
The actual numbers are pretty small, but the percentage increases are massive for U.S. wheat. China’s purchases are up about 2,570%. U.S. poultry sales to China are up almost 2700%.
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