China Tightens FM Standard for U.S. Soybeans China intends to tighten its foreign material (FM) standard for U.S. soybeans, effective 1 January 2018. Soybeans arriving after that date containing 1 percent or less FM will be expedited for importation, while those with a level above that will be subject to additional testing. China indicates the change is needed to reduce the amount of weed seed in arriving cargoes from the U.S. While some industry sources suggest the new policy was developed in consultation with USDA/FGIS staff, another expects China to shift the maximum acceptable level to 1 percent. Traditionally, China has purchased soybeans on a USDA #2 contract, which specifies cargoes must contain no more than 2 percent FM on average...
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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