The summit meeting late last week between President Donald Trump and Chinese President Xi Jinping in Washington, D.C. produced a two-month trade-truce extension and U.S. statements of progress on agricultural market access. However, grain traders wanted more clarity. “Few major breakthroughs so far,” was the synopsis by veteran ag market watcher and policy analyst Jim Wiesemeyer of Ag Bull Media. “For agriculture, the immediate benefit is greater trade continuity, while the test remains additional purchases and reduced barriers.”
In last Thursday’s welcoming remarks, Trump said work through the bilateral Board of Trade included improved access for American farmers and ranchers. His statement did not provide a complete list of newly eligible products, additional purchase volumes or effective dates. Those details will determine the commercial value, said Wiesemeyer.
