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USDA monitoring trade impacts from Coronavirus in China

The USDA reports seeing a slow down of imports and the shutdown of internal movement of ag products in China driven by the Coronavirus outbreak.

Acting Ag Outlook Board Chair Mark Jekanowski says the disease had the potential to have big impacts on China’s economy.

“It could potentially reduce their demand for various agricultural commodities.”

He says analysts will be watching closely to see if and how the impacts are reflected in commodity shipments.

“The potential effect of the Coronavirus has certainly shown up in the futures markets already.”

The ag industry is also waiting to see if the unforeseen outbreak will have any impacts on the phase one trade deal between the US and China.

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