China
China’s buying spree continued Wednesday with USDA confirming a a sale of 132,000 metric tons for delivery to China during the 2021/2022 marketing year. The five-day buying spree supported soybean prices.
China’s government quietly issued new procurement guidelines in May that require up to 100% local content on hundreds of items, and in turn, violated the spirit of the January 2020 Phase One trade deal with the U.S.
A recent report showed by the start of 2020, Chinese owners controlled about 192,000 agricultural acres in the U.S., worth $1.9 billion. So, are Chinese investors stealing American agriculture? John Phipps weighs in.
China will strengthen price controls on iron ore, copper, corn and other major commodities in its 14th five-year plan for 2021 to 2025 to address abnormal fluctuations in prices, the state planner said on Tuesday.
While some signs point to a recovery for China’s hog herd, analysts say reliable and consistent data out of China is absent today after China clamped down on traditional sources of information.
Fresh data from China’s state media indicates the world’s largest pork producer is recovering from multiple years of ASF outbreaks. The news comes after the disease wiped out 40% of China’s hog herd in 2019.
China will issue new rules on the management of price indexes for commodities and services, it said on Thursday as the government steps up scrutiny of the country’s commodity markets and battles to contain inflation.
As analysts keep a close eye on rumored soybeans buys from China late last week, China has issued new rules when it comes to monitoring commodity prices as the country battles to contain inflation.
USDA confirmed on Monday China purchased just over 1 million metric tons of new crop corn, but the country also canceled 280,000 metric tons of old crop corn. The buying spree signals tight supplies could continue.
China is taking in record amounts of soybeans from the U.S., Brazil as its hog population recovers from ASF that began nearly three years ago, but import expansion into the next marketing year might be minimal.