Phase One Flaws Headlines surrounding China’s import purchases from the U.S. reflect the challenge of politically motivated purchasing agreements. On the one hand, analysts note that China’s imports of U.S. goods slowed again in May, making it unlikely that it will meet the purchase targets in the Phase One trade agreement. On the other, it is observed that soybeans have rallied this week on Chinese purchases from the U.S. despite South America being cheaper. Larger forward purchases could be coming once the U.S. new crop is harvested and prices become more competitive.  Agricultural Supports Critique The OECD issued its 2021 report entitled Agricultural Policy Monitoring and Evaluation and it does not paint a pretty pic...

TAGS – China, North America