USDA Secretary Sonny Perdue told Farm Bureau members that the signing of the phase-one agreement should mean that a third round of trade aid in 2020 should not be expected by farmers.
He did say that the third installment of the 2019 Market Facilitation Program (MFP 2) payments should be dispatched shortly. He pointed to the purchase by China in the deal that he believes will alter China’s usual pattern of buying U.S. ag goods in the fall and winter.
"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," Perdue observed.
He also predicted that the U.S. will post a record year for U.S. ag exports, especially with the additional Chinese purchases. This will put more attention on the U.S. ag export forecast which is not scheduled to be updated until February 20.
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