The Chinese government will investigate U.S. sorghum (a grain used for animal feed and biofuels) exports on the basis of subsidies for crop insurance and price guarantees. It is difficult not to see this move against the backdrop of worsening U.S.-China trade relations. Restrictions on U.S. soybean exports, touted during President Trump’s visit to Asia in November, have already been put in place. China accounted for 79% of American sorghum exports in the 12 months to November 30, or $892 million. Exports had already been in decline, with shipments to China down 14% and to the rest of the...