The trade meeting between President Trump and Chinese President Xi Jinping resulted in an agreement of a framework for a trade deal. While the news is reassuring, there is still a lot of information that we don’t know about this potential deal yet. Allendale commodity broker Greg McBride said the initial market reaction was negative.
McBride said there still needs to be caution with this framework, as no trade deals have been officially signed yet.
McBride said the details that we do know as of right now look good for the grain markets.
However, McBride said the export figures would still be below where they should be.
McBride added that the deal won’t just magically fix our export woes- in fact, it would only be a slight improvement, if anything.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
