PEI GEC Update

Traders still watching for news from the China/US trade talks, with the US pressing China to trim ag tariffs and start making some further purchases of US ag products, without waiting for an overall trade agreement. Of course China will want to use that as a bargaining chip to get some concessions from the US in the process.
While news of China purchases would likely trigger a rally, it will not really alter the overall outlooks. US supplies are huge heading into new crop seeding, and SA supplies are already moving onto world markets. The bean market likely needs to work to try to trim US bean acres even further than what is forecast now. Growers may need to move some cash beans into seeding.