The world market for soybeans nearly doubled in a 10-year span, growing at an average 7.5 million tonnes a year through 2018, say USDA analysts in the monthly Oilseeds: World Markets and Trade report. But the go-go days of growth may be over, due to retrenchment in China, the dominant buyer. …
A day after the White House reported constructive talks with China, President Trump expanded the Sino-U.S. trade war on Thursday, saying China wasn’t buying enough U.S. farm exports and Beijing wasn’t moving fast enough in negotiations.
If China eliminated its punishing trade war tariffs on U.S. soybeans, net farm income would climb by nearly $3 billion this year and $4 billion in 2020, said three university economists in examining one aspect of the Sino-U.S. trade war. The two countries will resume trade talks next week in Shanghai.
The loss of nearly 6 million acres of corn and soybeans to a cold and rainy planting season this year will be felt into autumn 2020 and beyond, said the government on Thursday, as fat U.S. stockpiles will be drawn down to compensate for short crops.
There is no deadline for resolving the Sino-US trade war, said White House economic advisor Larry Kudlow on Tuesday. But he said China ought to purchase U.S. soybeans and wheat as a sign of good faith while negotiations are under way. Kudlow’s comments, made during a CNBC “Capital …
The USDA took a 9 percent whack out of its projected U.S. corn harvest last week and economist David Widmar said on Monday that more adjustments will be forthcoming due to a remarkably rainy and prolonged planting season in the Farm Belt. "The implications of the slow, wet spring will take a while to be fully realized," wrote Widmar at the Agricultural Economic Insights blog.
The United States could be headed for its smallest corn crop – 13 billion bushels – since the scorching 2012 drought, according to estimates circulated ahead of USDA projections due today at noon ET. One of every six acres intended for corn, or 15.7 million acres, is yet to be planted because of a cold and persistently rainy spring, and yields per acre drop precipitously for late-planted corn.
USDA lawyers may have an answer this week on whether Trump tariff payments, intended to mitigate the impact of the trade war, can be given to farmers unable to plant a crop this year, said Agriculture Secretary Sonny Perdue on Monday.
Normally, the corn-planting season is over by the first week of June, but this year, 31 million acres — one-third of the intended corn land nationwide — have yet to be sown due to a persistently rainy spring. Soybean planting is also far behind schedule.
Corn and soybean planting is running roughly 30 percentage points behind normal in a cold and rainy spring, said the weekly Crop Progress report on Monday. "Delayed planting has set the stage for potential corn yield reductions at the national level," but not guaranteed them, wrote economist David Widmar in a blog about the implications of one of the five slowest corn planting seasons on record.