soybeans
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.
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.
‘Big crops, low prices,’ for a long time ahead, says CBO
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.
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.
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.
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.
As China tightens its belt, U.S. soybeans feel the pinch
The giant of world soybean trade, China, will slash its soy imports by 10 percent this trade year under the dual effects of trade war with the United States and an outbreak of African swine fever, said the U.S. agriculture attache in Beijing. At the same time, USDA data show a sharp decline in soybean exports to all markets and a trade group said tit-for-tat tariffs are putting pressure on pork sales to China and Mexico.
Corn and soybean farmers will struggle for profit in 2019
Corn may be more profitable than soybeans in 2019, but that isn’t saying much about the outlook for midwestern farmers, say a pair of agricultural economists from the University of Illinois.
U.S. awash in corn and soybeans, says USDA harvest forecast
The mammoth corn and soybean crops awaiting harvest across America are larger than expected, the USDA said on Wednesday in its monthly Crop Production report.
China trips soybeans, corn wins race for top U.S. crop
A year after making soybeans the most widely grown crop in the country, U.S. farmers will make corn king again, driven by trade war with China and a burdensome soy stockpile, said the FAPRI think tank at the University of Missouri. "China's tariffs will reduce U.S. soybean exports," said FAPRI. The research group expects farmers will slash soybean plantings by 5.5 percent in 2019 in the face of the lowest market price in 12 years.
Farm income stabilizes a bit, but financial stress edges upward
U.S. farm income is higher than expected this year and is regaining its footing after taking a tumble early this decade, said the Agriculture Department on Thursday. Nonetheless, net farm income will be the lowest since 2006, and the debt-to-asset ratio is rising for the sixth year in a row.
State regulators call for early cutoff date for dicamba use
Many states have reported significant complaints from farmers about dicamba damage to their crops and plants, said an association of state pesticide regulators in calling for the EPA to tighten its rules on use of the weedkiller.
Groups ask appeals court to take dicamba off the market
Environmental groups told a U.S. appeals court on Wednesday that the EPA had failed to properly assess the risks posed by the weedkiller dicamba to nearby crops and should be ordered to revoke its approval of Monsanto’s version of the herbicide, reported Reuters.
Trump tariff bailout may be sunlight ahead of storm clouds over farm sector
Crop and livestock producers are likely to learn on Monday how the Trump administration will allocate up to $12 billion in aid to offset the impact of retaliatory Chinese tariffs on the U.S. farm sector, said Agriculture Secretary Sonny Perdue.
Will soybean growers get the lion’s share of Trump tariff payments?
Soybeans are the largest U.S. farm export to China, and growers of the oilseed may be in line for huge federal payments, worth an average of $85 an acre, to offset the impact of retaliatory Chinese tariffs. Corn growers, meanwhile, might not get enough per acre to buy a cup of coffee at many restaurants.