China
In trade war respite, China buys 2.25 million bushels of U.S. soybeans
The USDA confirmed on Monday the sale of 612,000 tonnes (2.25 million bushels) of U.S. soybeans to China, a small part of the 5 million tonnes promised to President Trump last week and much less than traders suggested over the weekend. China used to be the largest customer in the world for U.S. soybeans but retaliatory tariffs have reduced sales to one-eighth of their usual pace.
China and U.S. are a long way from ending trade war
The tenor of Sino-U.S. negotiations is heartening but "we're still a long way" from resolving trade war between the world's two largest economies, said Agriculture Secretary Sonny Perdue at a cattle industry conference. Meanwhile, China was following through on a pledge, announced at the White House, to buy U.S. soybeans, with some trade sources putting the purchases as high as 4 million tonnes, worth $1.35 billion.
At the White House, Chinese official says his country will buy more U.S. soybeans
In a letter read aloud at the White House, Chinese President Xi Jinping said Beijing will buy more U.S. farm exports, a decision that President Trump hailed on Thursday as a sign of good faith in ongoing negotiations to end the trade war between the nations.
Trump trade war: ‘We’re going to hang with him,’ says Farm Bureau chief
The Sino-U.S. trade war, which as stymied U.S. farm exports, "is going to be a long one, and we keep delivering the message, 'We're with you, Mr. President,'" said the leader of the largest U.S. farm group on Sunday, adding a caveat. "The runaway of our patience is going to be determined by the financial situation of our farms. We went into the battle very weak." <strong>(No paywall)</strong>
Trump asks farmer support on shutdown, hints at farmworker reform
In a speech to the largest U.S. farm group, President Trump asked American farmers on Monday to take his side on the partial government shutdown over a border wall and said that with a secure border, "I'm going to make it easier" for farmworkers to enter the country. "Because we want to take people in to help our farmers, et cetera. Very important," he said.
Ag trade is a top topic at Sino-U.S. trade talks
Trade officials from China and the United States discussed “China’s pledge to purchase a substantial amount of agricultural, energy, manufactured goods, and other products and services from the United States” during three days of talks in Beijing, said the Trump administration on Wednesday.
A costly half-year for soybean growers in Sino-U.S. trade war
After six months of tit-for-tat tariffs between China and the United States, American soybean growers called for a speedy end to the trade war on Monday. "This has been a long and costly half-year for farmers and we need stability returned to this market. We cannot withstand another six months," said Kentucky farmer Davie Stephens, president of the American Soybean Association.
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.
USDA doubles Trump tariff payments to farmers to $9.6 billion
Agriculture Secretary Sonny Perdue announced on Monday the second and final round of $4.8 billion of Trump tariff payments, meaning crop and livestock producers will collect up to $9.6 billion in cash to cushion the impact of the Sino-U.S. trade war. So far, the USDA has sent $2.38 billion in payments to producers of almonds, corn, cotton, dairy, hog, sorghum, soybeans, fresh sweet cherries and wheat.
China takes a nibble of U.S. soybeans, but not enough to reassure growers
China made its first major purchase of U.S. soybeans since Donald Trump and Xi Jinping agreed two weeks ago to try to settle the Sino-U.S. trade dispute, said the USDA on Thursday. The purchase, however, was too small to convince growers that China will return to its role as the biggest customer for U.S. soy exports.
USDA expects to set tariff payment rates this month
The USDA anticipates it will announce payment rates before the end of this year for the second round of Trump tariff payments, said an agency spokesperson on Wednesday. The news followed a published report that the White House was delaying the payments.
Trade war side effect: Smallest ag trade surplus in 12 years
Although ag exports are consistently larger than ag imports, that trade surplus is forecast to narrow to $14.5 billion in fiscal 2019, which would be the smallest surplus since the $12.2 billion of 2007, say USDA economists.
White House expects immediate action by China on ag trade
Taking a "show me" stance, White House economic adviser Larry Kudlow said on Monday he expected China to roll back tariffs on U.S. farm exports promptly and begin trade reforms in line with the trade deal struck by President Trump and Chinese President Xi Jinping. The White House said over the weekend that China will make "very substantial" purchases of agricultural, energy and industrial goods but analysts saw no firm commitments in the statement.
Hog prices below cost of production because of trade war
Pork producers will struggle through this winter with market prices below the cost of production, says economist Chris Hurt of Purdue University. "Record pork production and trade disputes continue to be the near-term drag on prices," wrote Hurt at the farmdoc Daily blog, adding that futures prices in the spring and summer "will be high enough to provide profitability."
The farm-income bump is the bailout by Trump
U.S. farm income will be slightly higher than expected this year due chiefly to $4.7 billion in Trump tariff payments that will buffer the impact of trade war on commodity prices, says the USDA. With the bailout, farmers are forecast to collect $13.6 billion in direct farm payments, the largest amount in 12 years.
U.S. ag sales to China to fall by 45 percent in trade war
China, formerly the No. 1 customer for U.S. ag exports, will buy a comparatively paltry $9 billion worth of those exports this fiscal year, a startling 45 percent cutback due to the trade war, said the USDA on Thursday.
Demand from China drives disastrous overfishing of sea cucumbers
FERN’s latest story, in collaboration with National Geographic, takes readers inside the world of the illegal sea-cucumber trade, showing how demand for the delicacy in China is driving a global market that threatens to wipe out many species of the marine animal.<strong>(No paywall)</strong>
Smallest U.S. soy exports in four years as trade war reshapes world market
Forced by the trade war, China, the world’s largest soybean importer, and the United States, the largest grower, are on the prowl for new soybean trading partners, though neither will fully replace the other soon, said the USDA on Thursday.