WKHWUDGLWLRQDOURXWHPD\FKDQJHEXWWKHJUDLQZLOOÀRZ So, China will buy more from the US, Ukraine, Argentina DQG OHVV IURP$XVWUDOLD$XVWUDOLD LV VWLOO SURGXFLQJ WKH VDPHJUDLQVRLWZLOOKDYHWRVKLSLWVRPHZKHUHHOVHWR $IULFDRWKHUSODFHVLQ$VLD " It just comes back to the global connectivity of all WKHVHWUDGHÀRZV,GRQ¶WWKLQNDQ\ERG\FDQUHDOO\PDQDJH WKRVH WUDGH ÀRZV DQ\PRUH7KH\ PD\ KDYH EHHQ DEOHWRGRLW\HDUVDJREXWQRWDQ\PRUH´ :KLOH&KLQDGLGLQFUHDVHLWVLPSRUWVRI86VR\EHDQVDV SDUWRIWKHSKDVHRQHWUDGHDJUHHPHQWLWGLGQRWUHDFKWKH ¿UVWWDUJHWZKLFKFDOOHGIRUWKHSXUFKDVHRIPLOOLRQ LQIDUPJRRGV(VWLPDWHVVKRZHG&KLQDZRXOGKDYHKDGWR LPSRUWPLOOLRQWRQQHVRIVR\EHDQVWRUHDFKWKDWWDUJHW EXWRQO\LPSRUWHGPLOOLRQWRQQHV7KDWZDVVWLOOKLJKHUWKDQZKHQLWLPSRUWHGPLOOLRQWRQQHVRIVR\EHDQVIURPWKH8QLWHG6WDWHV%UD]LOVWHSSHGLQDV&KLQD¶V WRSVXSSOLHUH[SRUWLQJPLOOLRQWRQQHVRIVR\EHDQVWR &KLQDLQXSIURPDQGZLOOH[SRUWDQHVWLPDWHG PLOOLRQWRQQHVLQWKHFXUUHQWPDUNHW\HDU In addition to soybeans, China likely will remain an LPSRUWHURIFRUQIRUDIHZ\HDUVDQGKDVWKHSRWHQWLDOWR EHWKH1RFRUQLPSRUWHULQWKHZRUOGYHU\VRRQ9RJHO EXPERIENCE THE DIFFERENCE aggrowth.com VDLG,QIDFWWKH)HEUXDU\:RUOG$JULFXOWXUDO6XSSO\DQG 'HPDQG(VWLPDWHVVKRZHGLPSRUWGHPDQGIURPWKH(8 DWPLOOLRQWRQQHV0H[LFRDWPLOOLRQWRQQHV-DSDQ DWPLOOLRQWRQQHVDQG&KLQDDWPLOOLRQWRQQHV ³7KDW¶VQRWGULYHQE\SROLWLFLDQV´9RJHOVDLG³7KH\¶UH KDYLQJWRVXSSO\WKRVHFRUQQHHGVIRUWKHOLYHVWRFNVHFWRU$WWKHVDPHWLPHLWKDVUHGXFHGFRUQVWRFNVRYHUWKH ODVW¿YH\HDUVVRWKHUH¶VQRWPXFKWKH\FDQHDVLO\EULQJ RQ WR FDOP GRZQ WKH PDUNHW &KLQD QHHGV D KLJK QXPEHURIFRUQLPSRUWVDQGWKH86LVDJRRGVXSSOLHU6RXWK $PHULFDZLOODOZD\VSOD\DUROHLQWKDWDOVR " It will take a few more years for it to recover from $IULFDQVZLQHIHYHU,W¶VDSRVLWLYHVLJQIRUWKHIXWXUHWKDW WKHFRXQWU\ZLOOKDYHYHU\VWURQJLPSRUWQXPEHUVJRLQJ IRUZDUG´ $ORQJ ZLWK ORVLQJ D PDMRU VKDUH RI VR\EHDQ H[SRUWV WR%UD]LOWKH8QLWHG6WDWHVKDVIHOWSUHVVXUHIURPRWKHU UHJLRQV LQ FRUQ DQG ZKHDW H[SRUWV &RPSHWLWLRQ IURP Russia, Ukraine and Australia has weighed down wheat H[SRUWV ZKLOH %UD]LO $UJHQWLQD DQG 8NUDLQH DUH GULYLQJGRZQLWVFRUQH[SRUWVKDUH7KHWUDGHZDUZLWK&KLQD ERRVWHG%UD]LOLQWRWKH1RH[SRUWVSRWIRUVR\EHDQV 7KHHPHUJHQFHRIQHZORZFRVWSURGXFHUVDQGH[SRUW-http://www.aggrowth.com