China, the world's largest soybean buyer, has put purchases of American supplies on hold after the trade war between Washington and Beijing escalated, according to people familiar with the matter. State-grain buyers haven't received any further orders to continue with the so-called goodwill buying and don't expect that to happen given the lack of agreement in trade negotiations, said the people, who asked not to be named because the information is private. Still, China currently has no plans to cancel previous purchases of American soybeans, the people said.
China blamed Washington for wrecking trade talks and insisted the U.S. must alter its "wrong practices" before negotiations can resume, leaving the next move to President Donald Trump as financial markets slump amid prospects for a prolonged dispute. "China's stance on the talks has been clear -- if the U.S. wants to resume talks, they should show sincerity and correct their wrong practices," ministry spokesman Gao Feng said in Beijing on Thursday, May 23. "Only on a basis of equality and mutual respect can the talks continue."
China's attempts to control African swine fever have been insufficient to stem further spread of the disease, with the deadly pig contagion now endemic in two regions, a United Nations group said. The virus that causes the disease is entrenched among pig populations in the autonomous regions of Tibet and Xinjiang Uygur, the Food & Agriculture Organization in Rome said in a report Thursday, May 23. Diseases that are endemic, or generally present, are more difficult to stamp out by quarantining and culling diseased and vulnerable livestock.
If you've eaten grass-fed beef in America over the past few years, chances are the cows weren't raised in the U.S., even if the package has "Product of U.S.A." printed on it. Meat giant Perdue Farms said it wants to change that.
Clay Govier reckons he'll be kept out of his fields through the Memorial Day weekend as a torrent of rain drenches farms across the Midwest and Great Plains. While that may give Govier an unwanted break from fieldwork, the U.S. farmer will be kept busy by a dilemma: He has to consider whether it would prove more profitable to grow corn or switch to soybean once the downpour abates. Or plant nothing at all and make an insurance claim for his troubles. Adding to the confusion is a lack of clarity over a government aid package for those hurt by the trade war with China.
Egg whites are universally accepted as a healthy source of protein. But because they come from chickens, one could worry about animal welfare, the environmental damage wrought by industrial poultry and even Salmonella-since the Food and Drug Administration estimates that 79,000 Americans are sickened by tainted eggs every year. Or maybe you're just a vegetarian. Regardless, the way to solve all of these problems is to just make "eggs" from plants.
President Donald Trump's escalation of the trade war with China without a concrete plan to aid farmers could worsen the rising stockpiles of U.S. crops such as soybeans and depress commodity prices even after the current dispute is resolved. The Trump administration is signaling that the aid package it's assembling would make payments to farmers based on their current crop production, raising concern among analysts and some lawmakers.
American farmers, among Donald Trump's most loyal supporters, face mounting financial pain from the president's trade war with China and the growing risk that the damage will outlast the conflict. The standoff with China over trade is compounding the strain of five years of falling commodity prices and losses from spring flooding.
Traders who lived through the 1980s U.S. farm crisis have a good reason to be skeptical of President Donald Trump's new plan to help growers. That's because they question whether the U.S. would really be able to ship all of the $15 billion in potential federal farm-good purchases as humanitarian aid to poor countries. Instead, they suspect the government will end up stockpiling. Keeping reserves in the country won't solve the current overhang and, if history is any guide, the pile will just keep on growing.
Hedge funds have never been this bearish on soybeans, a move that's paying off as the market craters. Futures posted their biggest weekly loss in more than eight months as optimism fades over a close-at-hand end to the U.S.-China spat. Trump has raised tariffs on some goods from the Asian country and threatened Beijing with an ultimatum: seal a deal in a month, or face duties on all exports. The hardening stance has traders worried that the 25% retaliatory tariffs American soy is facing aren't going away anytime soon.