China's Weak Grain Market Clouds US Export Prospects

China's weak grain market is putting a damper on U.S. export opportunities, despite political commitments to buy $17 billion annually in agricultural products through 2028.

Retired USDA economist Fred Gale says falling wheat prices and increased feed use of lower-quality wheat have pressured Chinese corn values.

Gale notes that Chinese corn averaged about $8.77 per bushel in early August, with additional pressure possible as the new crop arrives.