Trade

Rising household incomes, increasing production and favorable trade policies have led to major growth in U.S. agricultural exports in the past several decades.

President-elect Joe Biden has pledged to work more closely with U.S. allies in confronting China on trade, and is seen as unlikely to roll back his predecessor’s tariffs.

China committed to buying 200 million gallons of ethanol during the first half of 2021. If the commitments turn into shipments, it would mark the largest annual purchase for U.S. ethanol ever.