Ag News: Optimism on China
**Optimism seems to be growing from the possible trade truce with China.
According to agweb.com, talks are focused on China buying 5 Million Metric Tons of soybeans, but it’s not just China.
The U.S. Soybean Export Council reports net sales for soybeans were nearly 891-Million Metric Tons, up 42% percent from the previous week, and nearly 85% higher than the previous 4-week average, much of that from Argentina and Indonesia.
Analysts say while they're looking for concrete evidence China is back, overall sales may indicate it's already having an impact.
**A one-two punch took milk prices higher on Tuesday.
A stronger barrel trade brought buyers to the market who moved the price up 4 and a half cents with prices finishing at $1.25 and a quarter.
The second feature was tweets by President Trump announcing progress in the talks with China followed by an announcement China would reduce tariffs on U.S. automobiles from 40% back to 15%.
And while nothing was said about ag products, the hope of progress helped boost milk prices.
**Ag Secretary Sonny Perdue praised the announcement from the EPA and Army Corps of Engineers that they’re fulfilling President Trump’s pledge to repeal and replace the Waters of the U.S. rule.
Perdue says one of the chief concerns people in American agriculture express is the overreach of federal regulations and the WOTUS rule is regularly singled out as particularly egregious.