As agricultural markets respond anxiously to China’s attempts to control its coronavirus outbreak with a countrywide quarantine, economists are urging patience.

The disruptions could turn out to be no worse than the economic equivalent of a few sniffles to international trade, Oklahoma State University experts said.

Only two months since coronavirus 2019-nCoV, or COVID-19, was first identified in Wuhan, China, it is still too early for projections.

“We are in uncharted territory,” said Larry Sanders, OSU Extension agricultural economist. “It’s been said that when the United States has an economic downturn, other countries catch a cold, and vice versa. Now, our biggest trading partner has a real virus and the rest of the world is dealing with the symptoms.

“We were just getting back on our feet from the way the current administration has dealt with trade difficulties in China – primarily the tariff situation, which harmed U.S. agriculture. We finally felt the trade deal that had just been worked out would leave us in a good position for at least a couple of years,” he said. “Now, though, China’s circumstances have changed and we don’t know exactly what to expect.”

At the beginning of February while speaking at a cattle convention, U.S. Department of Agriculture Secretary Sonny Perdue verbalized that uncertainty when he said the deadly infection might well draw down developing trade deals with China. Beijing agreed to buy an additional $12.5 billion in U.S. farm products this year, but the healthcare disaster could not have been predicted, Perdue said. He counseled the need to be “understanding” without providing specific details.

Many U.S. businesses, organizations and schools have canceled travel to China, including OSU. In a recent prepared statement, OSU University Health Services said school officials continue to monitor information from the state Department of Health and the Centers for Disease Control and Prevention.