The new year is bringing some optimism for the farm economy, thanks to multiple factors. Farm Bureau Chief Economist John Newton says one of those factors is trade with China, which could reach near record levels.
”Recently released data from the U.S. Census Bureau show that preliminary exports to China during November [are] nearly $5 billion. So, when you add that to the existing total, we’ve now sold about $22.5 billion to China. So, that’s significant progress and a step in the right direction. We’re unlikely to hit the Phase One targets, but we could be close to record exports to China this year.”