“A seasonal drop in exports to China was expected…But the magnitude of the fall has been greater than anticipated.”-U.S. Department of Agriculture

According to a September 1 report by Agrimoney, China has slashed its purchasing of U.S. farm products.  Not by a little, by a whole lot.

Up until three months ago China was spending a monthly average of $2.5 billion, yes, $2.5 billion per month.  But starting three months ago China slashed it to $800 million per month.

Historically the United States has been the biggest supplier of farm products to China, but, if current sales continue the U.S. will end the year tied with Canada.