The White House touted over the weekend and again on Monday that China will immediately start buying U.S. agricultural goods. Ag economist Wally Tyner warns with tariffs still in place, that may not be a reality soon.
Recent price support caused by a lower national yield forecast dissipated this week, as negative consumption news and improving weather for harvest appeared, says University of Illinois ag economist Todd Hubbs.
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The White House announced after the markets closed Thursday that Trump had instructed the Office of the United States Trade Representative to consider whether $100 billion of additional tariffs would be appropriate.