The imposition of trade tariffs on imports from China and that country’s corresponding retaliation against imports from the U.S. have had a profoundly negative impact on corn, wheat and soybean prices since negotiations broke down. These trade issues have overwhelmed some bullish fundamental news for U.S. wheat and corn even though Chinese imports of those commodities are insignificant. The table below shows U.S. export sales of corn, wheat, sorghum and soybeans to China from 2014/15 through 2017/18 to date.
Import tariffs on corn and wheat to China will not affect overall U.S. exports of those grains. As the table indicates, however, sorghum is a different story. Remember that China replaced corn imports with sorghum imports from...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
