Huge harvests in China bode ill for U.S. exports.

China is still considered one of the great potential markets for American farmers, but an Agriculture Department report indicates that huge Chinese grain harvests this year will dampen prospects. Moreover, Chinese stockpiles of some commodities remain large, putting China in the world market as an exporter in competition with the United States. “Faced with surpluses of some agricultural products such as corn and cotton, and an overall balance of trade deficit, China’s planners apparently intend to at least maintain an agricultural trade surplus as a source of foreign exchange,” the USDA’s Economic Research Service said.