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Shining Light on Farm & Food Policy for 20 Years.
Thursday, March 28, 2024
China’s sorghum imports are steadily rising and producers are counting on the country’s importers to continue purchases into the new crop year, according to the U.S. Grains Council.
China’s livestock sector is booming even as the country recovers from African swine fever, and the country’s demand for feed is fueling optimism for U.S. corn and soybean exports in the 2020-21 marketing year, which begins Sept. 1.
Chinese importers closed contracts to buy 720,000 metric tons of U.S. soybeans – most of it for new crop – according to a USDA announcement Thursday, signaling the country is calculating the growing tightness of Brazilian supplies and locking in deliveries past September.
The fact that Chinese importers purchased between two and three cargoes of U.S. soybeans on Monday has helped quell concerns that the two countries might be rekindling their trade war, but the uncertainty of the situation continues to plague buyers and sellers.
China is buying a lot more U.S. ag commodities and tearing down major import restrictions — just as it promised in the “phase one” trade deal — but the successes of the pact are being drowned out by growing animosity on both sides of the Pacific.
U.S. soybean exports have been steadfastly weathering the severe impacts of COVID-19 around the world, but the pandemic is impacting foreign customers in waves and new threats continue to manifest as nations around the world work to keep their people fed.
USDA reports released Thursday show China has purchased another 1,400 metric tons of U.S. beef and 272,000 tons of U.S. soybeans, demonstrating importers are successfully getting exemptions to the country’s tariffs.
China is still battling to contain coronavirus infections, but the U.S. ag sector is taking heart in signs that industry there is coming back to life in time for trade to resume under the “phase one” trade deal.
The U.S.-China trade war that forced U.S. exporters to diversify market priorities has played a role in the colossal rise of trade with Egypt, but only on the surface.