US Market Analyst Arlan Suderman Says Consulate Closures Won't Affect Chinese Purchases of American Ag Products

.

Beijing may have ordered the closure of a US consulate in China in retaliation for the United States closing its consulate in Houston, but the escalating tensions may not impact Chinese imports of US ag products.

According to a July 22 report by Brownfield Ag New for America, market analyst Arlan Suderman with StoneX says his contacts in China do not think Chinese purchases will be affected.

“We believe that China will continue to buy when prices are cheap," Suderman says, "and currently they see U.S. corn and soybean prices as cheap, from a historical standpoint.”

And right now, Suderman says, the Chinese need U.S. soybeans, “to help bridge the gap until the South American harvest starts early next year.”

On July 24, China's ministry of foreign affairs said it had ordered the US consulate in Chengdu, in Sichuan province in southwestern China, to cease operations.

To view the complete report by Brownfield Ag News for America, click here.

Related Articles:

China Picks Up the Pace of U.S. Soybean Imports Despite Rising Tensions

China on Track to Use up Corn and Wheat Import Quotas for First Time Ever

Shippers Say Virus Testing Slows Clearing, Filling Chinese Ports to Capacity

China to Sell Rice and Wheat Reserves at Discount to Help Feed Producers Facing High Corn Prices