Rice today, Corn tomorrow?

[marketeye]

This week's headlines about the U.S., China trade talks highlight how very little was accomplished. In fact, one Reuters story highlighted that there would be little agreements made just so the two sides can say that some success came out of the meeting. So, I wonder if that is true with today's rice announcement. But, maybe rice exports to China can be followed by U.S. corn sales?

Here's today's press release from the USDA:

Secretary of Agriculture Sonny Perdue today announced that the U.S. Department of Agriculture has reached agreement with Chinese officials on final details of a protocol to allow the United States to begin exporting rice to China for the first time ever.

“This is another great day for U.S. agriculture and, in particular, for our rice growers and millers, who can now look forward to gaining access to the Chinese market. This market represents an exceptional opportunity today, with enormous potential for growth in the future,” said Perdue. “The agreement with China has been in the works for more than a decade and I’m pleased to see it finally come to fruition, especially knowing how greatly it will benefit our growers and industry."

China is the world’s largest producer and consumer of rice. Since 2013, it has also been the largest importer, with imports reaching nearly 5 million tons last year. When the new rice protocol is fully implemented, the U.S. rice industry will have access to this critical market, significantly expanding export opportunities. U.S. rice exports can begin following the completion of an audit of U.S. rice facilities by China’s General Administration of Quality Supervision, Inspection and Quarantine.

What say you?

Mike

[clayton58]

First beef to china and now rice!! This administration is doing great things for agriculture!!

[elcheapo]

Clayton my friend, you really need to get in the
AC...this heat is starting to cloud your judgement.
😂

[clayton58]

Well the AC in my tractor this morning was in adequate..but what's not to like about expanded trade with China?

[sw363535]

Usda release was informative and dealt with facts.
Why read headlines ? They commonly misrepresent the story that follows. Besides they are too political for the marketing page.

[sw363535]

Selling rice to china. Very symbolic.

[roarintiger1]

Considering we were supposed to be in a trade war with China right now because of who we elected, this is bullish news.   Okay, I'll go ahead and say it..........It's another win for Trump.    

[elcheapo]

we need a trade agreement

we have none

[northernpifrm]

we sold grain get over it

[sw363535]

I am sure we must be talking about one of those shiny agreements like NAFTA..... made back in the day when we were propelled into the "Global" future by the theory of beating down the US economy to lift all other economies around the world........ You talking one of those "agreements"  lets look at where that line of thinking took us.

https://www.census.gov/foreign-trade/balance/c5700.html

1985 ... exports to china  $ 3.8557 billion .............. imports from China   $ 3.8617 billion........ ............... $ -6 million deficit  or       0.15%

199....    """                       11.7537 billion                                                  45.5432  billion                         -33.7895 Billion deficit  or   74%

2005....        "" ""              41.192  billion                                                  243.4701 billion                       - 202.2781  Billion def

2015..........  ""    "           115.932 billion                                                  483.1887  Billion .................... -367.2567  Billion deficit   or  75% 

2017    first five months ............      49.5286  billion                          187.618  Billion                          -138.0893   Billion deficit   or  73%

Highest first five months total ever sold to China.....2017

What good did all those trade agreements do us???.......... Stop watching the folks who never do research.

Trade is trade............ all our agreements have done is guaranteed China a bountiful growing economy at the expense of ours.