China Eliminates Animal Feed Tariffs for Five Countries The Chinese government announced today that it will eliminate tariffs on imports of soybeans, soymeal, rapeseed, and fishmeal from Bangladesh, India, Laos, South Korea and Sri Lanka on 1 July. It apparently believes that this will help meet the animal feed needs of the country’s livestock and poultry sectors, which will face major problems if China imposes the threatened 25 percent tariff on U.S. soybeans on 6 July. The problem for China is that it probably won’t be able acquire many feed ingredients from those countries. Sri Lanka, Bangladesh and South Korea are net importers of soybeans and soymeal. USDA indicates India will export 1.5 MMT of soymeal, 400,000 MT of rape...
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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