China Teed Up President Biden meets with Chinese leader Xi Jinping next week outside the APEC meeting. Bloomberg suggests there could be a quid pro quo with China giving Washington assistance on defense issues, stopping the flow of fentanyl, and increasing transparency. In exchange, the U.S. would lower tariffs, remove obstructions to technology transfers, and getting FDI flows back going into the Middle Kingdom. This is a pipedream. The White House is already saying the effort to reshape China has failed. Next week’s meeting will focus on stability, not deliverables. There will be discussions about hot topics, such as tempering Iran, but the goal is baby steps toward a calmer relationship. Reality in the House Newly installe...
Accountability and a comprehensive approach to export programming
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What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...