Imports and Exports
While China grapples with choosing which production lines to reopen, the food shortage conversation looks to ramp up.
While China purchases have been a big part of the record U.S. export figures USDA just announced, it has more to do with growing demand, than our trade relationship.
This spring about 100 growers in New York started shipping corn and soybeans to Europe and Africa, via the Great Lakes Seaway system.
Biden says Ukraine has 20 million tons of stored grain awaiting export to various countries. He says lack of port movement coupled with halted planting in Ukraine will ignite a global food crisis unless action is taken.
The Biden administration is calling on Congress to provide additional resources overseas to “ensure Ukraine’s democracy prevails over Putin’s aggression,” including $500 million dedicated to domestic ag production.
The top 10 export markets all saw gains in 2021, with six of the 10 (China, Mexico, Canada, South Korea, the Philippines and Colombia) setting new records.
China booked its biggest single-day U.S. corn purchase on record on Tuesday, its second massive deal for the yellow grain in less than a week.
Chinese buyers booked their single biggest-ever purchase of U.S. corn, extending their flurry of large U.S. purchases even as tensions between Washington and Beijing rise.
And other reasons you should care about infrastructure.
Dr. Pat Westhoff joins AgriTalk’s Chip Flory to share his spin on the latest trends in crop markets, livestock outlooks and projections for net farm income.