Chinese Trade Deal impacting the Shore
DELMARVA– The coronavirus hasn’t only affected people’s health , it’s also starting to impact the poultry industry.
The Chinese trade deal that was supposed to be implemented by Feb. 15 has been delayed because of the spread of the virus.
We’re told the deal will kick up soy bean prices, but farmers said the longer they have to wait for the deal to go in, the stock for products like beans will drop.
“I think you’re going to see a drop, if this thing goes to say May, June, and they are really in a crisis in China, you’re going to see a good drop in soy bean prices,” Virgil Shockley, said.
Shockley thinks that a lot of the farmers may switch from growing beans to corn.
He also said that the United States may need to start looking for other markets to export goods to.