soybeans
With tariffs in place, China slows pace of soybean imports
Chinese imports of soybeans during July were 8 percent smaller than in June as the nation digested a soy glut at its ports, said AgriCensus on Wednesday. Imports tumbled at the same time that China imposed retaliatory tariffs on U.S. goods in the escalating tit-for-tat trade war with the United States.
Outlook for corn and soy farmers in 2019 ‘simply is not good’
Midwestern farmers will likely need large reductions in rental rates on cropland in 2019 to have a chance of making money on corn or soybeans, said economist Gary Schnitkey of the University of Illinois.
How much U.S. aid for soybean growers?
The Trump administration could pay substantial amounts to soybean growers under its $12-billion plan to shield U.S. agriculture from harm in the tariff war with China, said the head of a University of Missouri think tank on Thursday.
Drought persists in western Corn Belt, southern Plains
In its monthly Drought Outlook, the National Weather Service says drought will persist in northern Missouri and southeastern Iowa through August, a key month for crop development. Nationwide, about 15 percent of soybean land and 11 percent of corn land is in drought.
Researchers say China can cut soybean imports
Hogs and chickens can be raised successfully on low-protein rations if amino acids are added to their feed at particular stages of their growth, according to research at the Chinese Academy of Sciences. As a result, China, the world's largest importer of soybeans which is also in a trade war with the United States, could reduce its use of the oilseed by 5-7 percent, said the Xinhua news agency.
‘Tariffs are working big time,’ says Trump; China threatens counterpunch
Perdue on the EU: ‘They need to step up and buy’
The United States expects Europe to follow through on a promise to buy more U.S. soybeans, said Agriculture Secretary Sonny Perdue on Monday. At the same time, he said that America will not respect EU claims to the exclusive use of such food names as Parma ham or Roquefort cheese.
World grain supplies tighten, U.S. soy exports shrink
From the EU to the Urals, drought is hurting wheat and barley crops, said the International Grains Council, forecasting the smallest world grain crop in three years and the smallest “carry-over” supplies in four years.
‘Farmers are smart,’ won’t need more aid, says Perdue
U.S. farmers and ranchers were blindsided by the Trump trade war, but they will adapt quickly to lower commodity prices and disruptions in the export market, said Agriculture Secretary Sonny Perdue on Wednesday. “Farmers are smart,” he said, swatting down the idea that the White House will write another agriculture aid package after earmarking up to $12 billion for this year.
As commodity prices fall, Trump says ag exports will be ‘better than ever before’
Senators signaled their strong dissatisfaction with President Trump’s policy of trade warfare on Wednesday, while Trump said, falsely, that “farmers have done poorly for 15 years,” and pledged to remove trade barriers so that U.S. exports flow “better than ever before.”
Both China and U.S. will feel the pain of a soybean trade war
U.S. soybean exports will be down a quarter-billion bushels in the coming year due to steep Chinese tariffs on the oilseed, estimated the USDA on Thursday. In a boomerang effect of the U.S.-China trade war, Brazil would indisputably replace the United States as the world’s largest soybean grower as China scouts, without full success, for alternative soy suppliers.
Perdue roots for $10-a-bushel soybeans
If the United States and China settle their ongoing trade dispute, commodity prices could recover from their recent decline, said Agriculture Secretary Sonny Perdue on Wednesday. At the same time, he promised a USDA backstop in case of trouble.
As commodity prices sink, Perdue says Trump will aid farmers
The typical midwestern corn and soybean grower lost tens of thousands of dollars in potential revenue due to steep declines in commodity prices over the past four weeks, said Purdue economist Brent Gloy, listing global trade uncertainty as an obvious factor.
Dicamba weedkiller damages nearly 384,000 acres of soybeans
Farm sector fears large losses from mounting trade conflict
The Farm Belt will get walloped if China retaliates in equal measure against Washington's $50 billion in announced tariffs on Chinese goods, said economists at Midwestern universities. Ohio State researchers said farmers in the Buckeye State could see a 50 percent drop in farm income while Iowa State's Chad Hart said producers in the Hawkeye State could lose up to $624 million this year, depending on how long the tariffs are in place and if other customers are found.
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.
Smallest U.S. winter wheat crop in 16 years
Searing drought in the central and southern Plains will result in the smallest winter wheat crop since 2002 and the second smallest in 47 years, said the USDA in its first estimate of the summer harvest.
Farmers plant one-fifth of U.S. corn crop in a week
More than 19 million acres of corn were planted last week, thanks to generally favorable weather in the Midwest, according to the Crop Progress report released on Monday.