Sunday, March 22, 2020

Good News for Corn & Wheat Growers Amidst Coronavirus Unease


US exporters are reporting large sales of U.S. corn and wheat to China.  The USDA announced on Friday, March 20, export sales of 756,000 metric tons of US corn and 340,000 tons of hard red winter wheat.  The corn sale is for delivery in the 2019-20 marketing year.  The wheat sale is for 2020-21 and is more than China purchased in all of the 2019 calendar year, according to USDA data.  "China's reappearance in the market with a major corn purchase is encouraging," US Grains Council President and CEO Ryan LeGrand stated.  US Wheat Associates President Vince Peterson expressed appreciation "for the efforts of both the US and Chinese governments to reach the phase one trade agreement that has helped re-open the door to US wheat imports by China."

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