Sizing up a Potential $30 Billion Ag Trade Deal

Late in February, rumors of China agreeing to purchase an additional $30 billion per year in ag products as part of a trade deal circulated widely (here, here, here). This sounded like a big number, but our frame of reference is usually around bushels traded with China, especially soybeans. The $30 billion number was a bit ambiguous to us. In this week’s post, we try to understand and size-up a potential $30 billion trade deal with China.  (more…)