Imports and Exports
Some analysts believe a deal with Beijing will happen this week because of a potential gap in availability of the oilseed that’s likely to occur between the time the U.S. bean harvest ends and the Brazil harvest begins.
With China currently not buying U.S. soybeans, trade missions have taken on a whole new level of importance.
As Jed Bower takes the helm at NCGA, he is working to expand market opportunities in the U.S. and abroad, and looking for practical ways to reduce regulatory burdens on farmers.
While the Trump administration weighs an economic bailout for farmers that would use tariff income, groups like ASA continue to press for better market opportunities and a trade deal with China, in particular.
The Farm Journal September Ag Economists’ Monthly Monitor makes it clear: Working capital is thinning, export markets are shaky and long-term crop margins could get ugly. But for now, one thing is still keeping its strength: Americans’ appetite for beef.
Farm Journal’s September Ag Economists’ Monthly Monitor found nearly half of the ag economists surveyed say the U.S. ag economy is worse off than a month ago and will remain depressed or even worsen over the next 12 months.
Darin Newsom, senior market analyst with Barchart, Inc. says corn and soybeans are seeing a pick up in farmer selling or hedge pressure as harvest expands across at least the Central and Eastern Midwest.
Steve Censky, chief executive officer of the American Soybean Association, says unless China buys soybeans soon, they may be looking at aid similar to the Market Facilitation Program used back in 2018-19 during the last trade war.
Steve Censky, CEO of the American Soybean Association says, “China imports more soybeans than the rest of the world combined and so you can’t make up the loss of the China market by gaining a little bit here or there.”
If USDA predictions hold true, a massive U.S. corn crop is on the way.