U.S. crop prices head downhill after roller coaster climb
After soaring to sky-high levels following Russia's invasion of Ukraine, U.S. corn, soybean, and wheat prices are coming back to earth as supplies expand worldwide, said the Agriculture Department. The average price for corn this marketing year will be 27 percent lower, wheat 18 percent lower, and soybeans 10 percent lower than last season, said USDA analysts in a new look at global supply and demand.
Drought, biodiesel boom pinches world soyoil trade
The boom in production of renewable diesel fuel has pushed U.S. soybean oil prices so high the commodity is uncompetitive on the world market, said USDA analysts on Tuesday. Drought in Argentina, the world's leading soyoil exporter, also will be a major factor in the lowest volume of soyoil imports worldwide in five years.
Global corn trade tightens as Argentine, U.S. exports dip
Drought in Argentina and lackluster sales in the United States, two of the world’s major suppliers, will reduce global corn exports to their lowest volume in three years, said USDA analysts on Wednesday. Shipments from another leading source, Ukraine, were in question because an extension of the Black Sea Grain Initiative past March 18 has not been resolved.
‘Phase one’ was doomed to disappoint, and it did, say analysts
The 2020 agreement that de-escalated the Sino-U.S. trade war set unrealistically high goals for U.S. exports to China and failed to deliver on them by large margins, say analysts. Overall, China bought just 57 percent of the goods and services it committed to buying as part of the “phase one” agreement. The agriculture sector, at 83 percent, came closest to reaching its export goal.
Brazil and Argentina grow half of world’s soybeans
The U.S. share of global soybean production is falling for a second year while its two South American oilseed rivals pass a milestone. Brazil and Argentina will grow 53 percent of the world’s soybeans, with a combined output of 180 million tonnes in 2019/20, estimated the USDA in its monthly …
Brazil says Trump changed his mind on steel and aluminum tariffs
Three weeks after he slammed Brazil and Argentina for actions "not good for our farmers," President Trump reversed his decision to impose high tariffs on steel and aluminum imported from the South American nations, said Brazilian President Jair Bolsonaro on social media over the weekend. "The relationship between the United States and Brazil has never been Stronger!" tweeted Trump on the same day.
Trump slaps tariffs on Brazil, Argentina metals – and French champagne
Brazil and Argentina are taking actions that are "not good for our farmers," said President Trump on Monday, announcing high tariffs on steel and aluminum imports from the South American nations. Trump, who announced the tariffs on social media, said the weakening Brazilian real and Argentina peso adversely affects U.S. manufacturing and agricultural exports, making American-made goods more expensive.
In goodwill gesture, Trump delays higher Chinese tariffs for two weeks
Hours after complimenting China for waiving tariffs on some U.S. products, President Trump announced on Wednesday a two-week delay, until Oct. 15, of higher tariffs on $250 billion worth of Chinese-made goods. On social media, Trump called the delay “a gesture of good will.”
Trade war could slow Chinese soy imports for years, says USDA
China will remain the world’s largest soybean importer in coming years even if the trade war with the United States is not settled, but it won’t be buying as much of the oilseed, said USDA analysts on Wednesday.
China buys 96.6 million bushels of U.S. soybeans in a week
In a break from the trade war, China made its third purchase of U.S. soybeans in a week, said the USDA on Wednesday. The purchases followed a meeting between President Trump and Chinese President Xi Jinping in Buenos Aires that Trump said would result in significant exports to China.
U.S. heads for near-record corn exports
Thanks to continued strong demand from overseas buyers, U.S. corn exports this trade year could be the second highest ever, the Foreign Agricultural Service said on Thursday.
Argentina imports U.S. soybeans, a first in more than two decades
In the agricultural equivalent of coals to Newcastle, the No. 3 soybean grower in the world, Argentina, is buying soybeans from one of its major competitors, the United States, because of drought damage to its own crop.
Drought wallops Argentina’s soybean crop
Prolonged drought will limit Argentina’s soybean crop to 47 million tonnes this year, about 10 million tonnes less than usual, estimated the USDA in its monthly WASDE report.
Drought in Argentina may take a toll on world grain supplies
Argentina is headed for its worst drought in three decades, and a downturn in crop production will likely slow the economic recovery in a country where corn and soybeans account for 36 percent of all exports, said Bloomberg.
Commerce Department authorizes anti-dumping duties on imported biodiesel
Biodiesel makers in Argentina and Indonesia should face anti-dumping duties of up to 277 percent on their shipments to the United States, ruled the Commerce Department in a case brought by domestic producers.
Report: Biodiesel driving deforestation and host of other problems at home and abroad
An investigation by activist groups Mighty Earth and ActionAid USA challenges the notion of biodiesel as the environmentally responsible fuel of the future. Burned: Deception, Deforestation and America’s Biodiesel Policy claims that growing demand for biodiesel in the U.S. contributes to a host of problems, from deforestation in Argentina and Indonesia to algae blooms in Lake Erie and the Gulf of Mexico’s dead zone.
China wants less trash in U.S. soybean imports
The No. 1 soybean importer in the world, China, is toughening its standards for imported U.S. soybeans, a step that may cut into the U.S. share of the market, said Reuters.
Commerce orders anti-dumping duties on biodiesel imports
Argentina has requested negotiations with the United States on a "suspension" agreement that would avoid imposition of stiff U.S. anti-dumping duties on its biodiesel exports, said the Commerce Department. The negotiations were announced at the same time the department ordered anti-dumping duties of up to 70 percent on the fuel.