U.S. Ag Office Lowers Forecast for China’s Soybean Imports The USDA/FAS office in Beijing this week forecasted China’s soybean imports in 2018/19 at 82 MMT and 80 MMT in 2019/20. That compares to current USDA forecasts for imports of 83 MMT in 2018/19 and 85 MMT in 2019/20. That would be the lowest soybean imports in five years and down from an estimated 94.045 MMT in 2017/18. The reduction in the forecasts for China’s soybean imports mostly is a result of sharply lower swine production because of African Swine Fever (ASF) that has reduced the swine herds by over 100 million head. It also is partly a result of China’s soybean production in 2019 forecasted at 17.1 MMT, up from 15.2 MMT in 2017 and 15.9 MMT in...
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: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
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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