Questions remain about China’s Phase 1 purchase commitments due to the coronavirus, which has limited buying in some markets. But the surge in Chinese inflation means we expect China will soon need to ramp up imports of pork and other protein sources. USDA could shed more light on how purchases might play out at its Ag Outlook Forum next week. Attention is also on South America, where crop prospects are climbing and soybean harvest is underway. There’s no need to wait for the mail.