We Still Don’t Know What U.S. And China Have Agree To

Agricultural markets are awaiting any kind of details of actions that may take place as a result of the weekend meeting between the Presidents of China and the U.S.

It's still not clear exactly what came out of the weekend meeting between Chinese president Xi Jinping and President Trump, but, "Just having dialogue is good, so let's celebrate that."  Undersecretary of Agriculture for Trade Ted McKinney said yes there was some sort of commitment from the Chinese to buy more US Ag products, but also "We heard some discussion about possible tariff reduction, we'll see how that goes."

Now that talk sent Ag markets soaring for a while but McKinney says "We don't want to get too euphoric." because he says the US isn't likely to ease the tariff pressure on China until it makes firm commitments to do a couple of things.  "Quit stealing our intellectual property and quit forcing technology transfer."

China promised to present a plan for that within 90 days. "So we'll see."  in the meantime we await details on China's promised US ag product purchases.  "Let's just see the proof of those purchases, the proof of those commitments and maybe we can have an even happier Christmas, that's my hope."