By Matthew Wilde
Progressive Farmer Crops Editor
ORLANDO, Fla. (DTN) — A trade deal with China inching closer to reality has soybean farmers buzzing this week at the nation’s largest commodity event here.
The 2019 Commodity Classic kicked off Wednesday evening. Thousands of farmers nationwide attend the annual four-day event, which features educational seminars and hundreds of companies showcasing the latest crop inputs, equipment and technology.
It is China’s recent announcement to buy 10 million metric tons (367.4 million bushels) of old-crop U.S. soybeans that has farmers excited. Chinese officials said it’s a good-faith gesture as trade talks continue between the nations. President Donald Trump postponed raising tariffs on $200 billion of Chinese goods from 10% to 25% because progress has been made resolving trade issues. This includes a lopsided trade deficit in favor of China and unfair trade practices, including intellectual property theft.
U.S. Soybean Export Council (USSEC) leaders will give a presentation Friday assessing worldwide potential for U.S.