While a Chinese ag ministry official indicated today that the government plan is to boost domestic soybean production for food purposes rather than reduce imports, there is little evidence that it has not been able to produce enough to meet demand. China Not Targeting Soybean Imports As an update to yesterday’s comments here that China’s plan to reduce corn production will result in more land planted to soybeans, an ag ministry official there indicated today it is meant solely to boost domestic soybean production for food purposes, not lower the level of soybean imports. He further suggested that the government intended to decrease the area planted to corn by a third over five years, specifically in non-traditional corn-growing regions wh...
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...
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