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Market analyst reacts to phase one agreement

Jeff Peterson of Heartland Farm Partners spoke Wednesday at the Northeast Nebraska Farm Show in Norfolk.

A commodity market analyst says, with the phase one agreement in place, the market now needs to see actual purchases by the Chinese. 

Jeff Peterson with Nebraska-based Heartland Farm Partners says the market had already built in the signing of the agreement. “Now what we’re going to have to have, in order to keep using this piece of information to help the market, we’re going to have to have purchases.”

And Peterson says there are still questions about enforcement of the agreement.

“So if the teeth are not strong enough, our fear is does the buying happen as much or as quickly as what the market wants.”

Brownfield spoke with Peterson at the Northeast Nebraska Farm Show in Norfolk, where he was a guest speaker.

AUDIO: Jeff Peterson

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