The Brazilian share of China’s corn imports over the past three months has been nothing short of impressive. It can be argued that U.S. corn should have been more competitive given that its ending stocks are nearly seven times larger but that was not reflected in pricing.
Besides, it is not just corn that China is buying less from the U.S. The American share of the overall China food import market is declining relative to Brazil.
Perhaps the reason is laid bear in the Global Times newspaper, a tabloid publication of the Chinese Communist Party’s People’ Daily franchise. That paper attributes reduced food imports from the U.S. to the government’s effort to de-risk its dependency on American food. E.g. do n...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
