Corn may be king, but soybeans rule U.S. exports

By a wide margin, soybeans are the most valuable U.S. farm export, accounting for 18 cents of every $1 in sales during calendar 2020, said the USDA's Foreign Agricultural Service on Wednesday.

Large ag exports to China create risk for U.S., says FCA chief

U.S. agriculture is running the risk of becoming overly reliant on large exports to China just over a year after Washington and Beijing de-escalated their trade war, said the head of the Farm Credit Administration on Wednesday.

China buys $850 million worth of U.S. corn

In a four-day shopping spree, importers bought 3.876 million tonnes of U.S. corn for delivery to China this marketing year, said the USDA. The corn was worth $850 million, based on futures prices in Chicago.

China buys $251 million worth of U.S. corn

Private exporters reported the sale of 1.15 million tonnes of U.S. corn for delivery to China by the end of August, said the USDA on Tuesday. The corn, equivalent to 45.3 million bushels, was worth $251 million based on futures prices in Chicago.

Weaker dollar will help meat and dairy but not cotton exports, says CoBank

U.S. farm exports are forecast by the USDA to hit a record $157 billion this year, aided by a weaker dollar against many foreign currencies. Agricultural lender CoBank says the impact will be somewhat uneven, with meat and dairy products benefiting the most.

Record corn and soybean crops possible as farmers chase high prices

Responding to strong exports and expectations of a U.S. economic recovery, farmers will plant 92 million acres of corn and 90 million acres of soybeans this spring, pointing to a record soybean crop and possibly the largest corn harvest ever, said the USDA on Thursday. Chief economist Seth Meyer also said farm exports would be a record $157 billion this year, including the largest-ever exports to China of $31.5 billion.

China gobbles a larger share of world meat trade

The world's most populous country is already its largest meat-importing nation and "looks like it's poised to play a major role in meat markets in the future," said USDA senior economist Fred Gale on Thursday. China's imports of beef, pork, and poultry are projected by the USDA to grow 29 percent in the coming decade.

WTO chooses first woman and African as director general

With a Trump administration objection out of the way, the WTO members selected Ngozi Okonjo-Iweala, a Nigerian, as its director general effective March 1. She will take office at a time of challenge for the organization; the world has lost confidence in mulilateral trade agreements as a path to …

New approach needed following ‘phase one’ failure, says analyst

The Trump administration’s “phase one” trade agreement with China alienated U.S. allies while failing to deliver on its promises of mammoth purchases by Beijing, wrote trade policy expert Chad Bown on Monday in calling for a new approach. “Only a group of countries working together and sharing …