Economy
Related: About this forumU.S. Agriculture Secretary says no need for more farm aid after China trade deal
Source: Reuters
U.S. Agriculture Secretary says no need for more farm aid after China trade deal
Mark Weinraub
3 MIN READ
AUSTIN, Texas (Reuters) - With China poised to increase purchases of U.S. agricultural goods this year as part of a Phase 1 China trade deal, the U.S. Agriculture Secretary said on Monday there is no need for a third year of trade-related aid for farmers.
Farmers have increasingly relied on aid from the U.S. government to survive during the past two years as exports have lagged throughout the U.S.-China trade war. But USDA Secretary Sonny Perdue said China will soon begin buying U.S. farm goods to meet the $40 billion in agricultural purchase agreements it made, alleviating growers need for more aid.
China, which typically buys the bulk of its U.S. agriculture products during the fall and early winter, will likely change the timing of its purchases, Perdue said.
If China is going to achieve that, and we believe they are, we think they have to buy earlier than the traditional export season from the United States, said Perdue, speaking at the American Farm Bureau Federations annual convention.
His remarks came one day after U.S. President Donald Trump addressed the convention, promising farmers that the deal will be good for them.
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Read more: https://www.reuters.com/article/us-usa-trade-china-agriculture/u-s-agriculture-secretary-says-no-need-for-more-farm-aid-after-china-trade-deal-idUSKBN1ZJ28L
Wellstone ruled
(34,661 posts)Purdue has no clue. This slug knows darn well the lead time for Grain Contracts and my money says,the first boat load of any Grain will be maybe November next year.
Watch the Rail Car Loading reports for when anything happens.
NickB79
(19,257 posts)I'll believe $40 billion when I see it. Their soy demands have cratered due to swine flu killing most of their hogs, and I don't believe the US has $14 billion worth of pork and chicken surplus to export.
Farmer-Rick
(10,197 posts)Well, sort of, kind of, at least until the African swine fever hits the US.
Go back to consolidating US farms into one giant producer. Keep all those sales once spread out to hundreds of thousands of farms in the hands of a few filthy rich.
Yea, the only farms that ever got subsidies were the filthy rich ones, really, it's USDA policy.