When looking back on the first five months of fiscal year 2021, Ag exports to China has increased considerably.
“China’s purchases were $20.2 billion, up 182% from that same period in 2020.”
USDA Economist, Bart Kenner, said China is buying more of practically every major US crop. So, for example, in dollar terms for the first 5 months of the fiscal year.
“Soybeans were 13.2 billion, up 225% from the 4 billion in 2020. Corn is 1.2 billion up a ridiculously large percent: 425,362%”
Chinese purchases of U.S. animal products are up as well; up 36% with big gains for U.S. beef, poultry, and dairy products. Pork sales, though, are down 30% as China continues to re-build its swine herd.
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