Ag Chat with Bob Bosold- May 26
Those that are keeping an eye on how much product China is buying from the U.S. under provisions of the U.S.-China trade deal signed this past January say the total is getting bigger. But it still doesn't look like they are going to meet their requirements under the deal. That means they are supposed to buy over 36 and a half billion dollars worth of U.S. farm products this year and over $200 billion worth over the life of the deal. So far in the first 3 months, they have purchased $3.35 billion worth of ag products-about 2% behind where they were at this time last year. U.S. do say the Chinese are trying to ramp up sales as they have now approved a record 2,085 port of entry to accept our farm products.
But Bloomberg is reporting that tensions are high between the U.S. and China and that trade deal is a bargaining chip. President Trump is blaming the Chinese for a mis-information campaign concerning the Coronavirus and is responsible for the fall-off in the U.S. economy. Bloomberg calls the situation a feud and says relations between the U.S. and China haven't been this bad since the 2 sides established formal relations over 4 decades ago.
Interim state Agriculture Secretary Randy Romanski told an on-line audience at the end of last week that it will still be a few days before all the details are worked out on how farmers can apply for some of the $50 million in direct aid that Governor Tony Evers has authorized. The money is coming through the Wisconsin Farm Support Program and is part of the more than $2 billion coming ito the state through the Cares Act recently approved by Congress and the Administration. We do know the payments will come from the Department of Revenue and they will not be on a first come first served basis.
The list is getting longer-of cancelled events for this summer. As of this past Friday, we can add the Great Minnesota Get Together to that list. That's when the Minnesota State Fair Board decided that because of the uncertainty caused by the Coronavirus and the time it takes to put together the fair, there wasn't enough time or enough ways to insure the safety of everyone involved. This will be the 6th time in history the fair has been cancelled-the last time being back in 1946. Last year over 2 million people attended the Minnesota State Fair which traditionally ends on Labor Day each year.