China
The United States, the European Union, Britain and Canada imposed sanctions on Chinese officials on Monday for human rights abuses in Xinjiang.
The same week U.S., Chinese officials will meet for the first time under the Biden Administration, China made two big corn purchases. Arlan Suderman of StoneX says while it may seem coincidental, the demand is real.
In a unanimous Senate vote on Wednesday, Katharine Tai was confirmed as the next U.S. Trade Representative. The trade expert was confirmed with a vote of 98-0.
Congress got a clearer view of President Biden’s trade agenda this week as the Senate Finance Committee questioned Katherine Tai, Biden’s nominee to serve as the United States Trade Representative.
As the U.S. waits to see if record corn purchases from China will turn into record shipments, there may be an economic incentive to buy more U.S. corn.
China put a record number of corn purchases on the books to end January, but it’s not just China buying. This week, USDA confirmed China bought more corn from the U.S., a sign demand may be strong across the board.
While China’s hunger for corn made headlines, Suderman says the steady demand for soybeans is creating a serious supply concern. That’s why there are now fears the U.S. could run out of soybeans.
China’s appetite for U.S. corn seems unstoppable. Just this week, daily sales of corn to China added up to a new record.
USDA raised its estimate for China corn imports, a step some analysts think is just the start. Darren Frye and Arlan Suderman debate whether China’s corn imports will live up to analysts’ expectations.
Navarro is a fierce China critic whose policy recommendations, if adopted by Trump, would assuredly cause China to react, perhaps against U.S. farm products and in particular, soybeans.