U.S. Pork to Japan Up and Chinese Okay U.S. Soybeans
**The latest U.S. pork export results showed an uptick in shipments to Japan, the leading value destination for U.S. pork.
After trending lower through the first four months the year, May pork exports to Japan increased 5% from a year ago, while export value, up 3%, was the highest in 18 months.
But January-thru-May exports to Japan were still below last year's pace, and U.S. Meat Export Federation Economist Erin Borror says this is largely due to a decline in U.S. shipments of ground seasoned pork.
**The Chinese government has given the go-ahead for five companies to buy up to 3 million tons of U.S. soybeans free of retaliatory tariffs as trade negotiations between the two nations continue.
According to agweb.com, the retaliatory tariff-free quota for 2 to 3 million tons will be part of a goodwill gesture toward the U.S., and there could be a second round of exemptions depending on how the trade talks progress.
**Trade Representative Robert Lighthizer's trip to Shanghai this week gives hope China will start purchasing more American farm goods, something the President views as a vital part of resolving the trade war
Politico's Adam Behsudi tells agrimarketing.com,
Administration officials have criticized China for not upholding its promise last month at the G20 Summit to buy 20 million metric tons of U.S. soybeans. So far, China has bought just over 13 million.