Beijing | Reuters — China is aiming to produce 95 per cent of its pork at home, according to a cabinet document outlining plans for its livestock sector, underscoring a goal to quickly rebuild its huge pig herd after a major disease epidemic. The document, released on Sunday, comes amid a heightened focus on food […] Read more
China targets pork self-sufficiency rate of 95 per cent
Imported beef increasing in market share
U.S. grains: Soybeans touch two-year top on China buying spree
Wheat up on technical buying, cash prices
Chicago | Reuters — U.S. soybean futures extended their rally on Thursday, rising 1.7 per cent to set a two-year high as brisk demand from China continued to support the oilseed market. Corn rose as the strength in soybeans overshadowed pressure from a smaller-than-expected Chinese corn import quota. Wheat futures jumped on technical buying and […] Read more
U.S. livestock: CME hogs up on another swine fever case in Germany
Cash cattle values firming
Chicago | Reuters — U.S. hog futures rose on Thursday as Germany confirmed one more case of African swine fever in a wild boar, fueling market hopes that China will boost U.S. pork imports. The new case follows six others confirmed in wild boars, not farm animals, in the past week. While no farm animals […] Read more
Britain’s wheat imports climb, Canada top supplier
London | Reuters — British wheat imports were sharply above year earlier levels in July, with Canada and France the main suppliers, customs data showed on Friday. Wheat imports for the month totalled 149,337 tonnes, up from 91,965 tonnes in July 2019, the figures show. July is the first month of the marketing year. Imports […] Read more
Canadian canola prices spike as shippers find back door to China
'Profits are extravagant... It is like gold oil now'
Winnipeg/Beijing | Reuters — Canadian canola prices have soared to the highest in nearly two years, despite a diplomatic dispute between Ottawa and Beijing, as exporters find roundabout ways to reach top oilseed buyer China. Chinese authorities have since March 2019 blocked canola shipments by two Canadian exporters, an action they took after Canadian police […] Read more
China’s slower meat imports seen worsening its protein shortage
Beijing | Reuters — China’s dwindling pace of meat imports, thanks to its tough measures against coronavirus contamination, will provide further support for prices already buoyed by a severe shortage of pork, analysts said. Purchases of pork and other meats have soared this year after domestic production shrank 30 per cent following an outbreak of […] Read more
India’s levy cut on lentils part of balancing act
Global markets had zero or little forewarning of decision
MarketsFarm — To Pulse Canada, the recent move by the Indian government to temporarily reduce the import levy on lentils from 30 to 10 per cent is part of a balancing act between competing interests. Greg Cherewyk, president of Pulse Canada, explained that Prime Minister Narendra Modi is “looking after the needs of a politically […] Read more
India reduces tariffs on lentils
Reduction set for all lentil imports except from U.S.
MarketsFarm — India is temporarily reducing import tariffs on lentils originating from most countries. The India government’s Central Board of Indirect Taxes and Customs on Tuesday posted “Notice 26/2020-Customs,” which lowers import taxes on most lentils entering the country, from 30 per cent to 10 per cent. The reduction, which takes immediate effect, runs until […] Read more
U.S. livestock: Lean hogs lower on China trade worries
CME live cattle close lower
Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures fell Monday on worries that deteriorating relations between the United States and China, the world’s biggest pork importer, could inhibit U.S. pork sales to the Asian nation, traders said. China told state-owned firms to halt purchases of soybeans and pork from the United States, […] Read more
U.S. grains: Soybeans end fractionally lower amid China trade woes
Corn pulls back on fair weather; wheat slips as U.S. harvest gets underway
Chicago | Reuters — U.S. soybean futures closed fractionally lower after a choppy session on Monday as brokers weighed pressure from rising U.S.-China trade tensions against news of fresh U.S. soybean sales to the Asian country, traders said. Corn fell on an above-average planting pace and fair weather forecasts across the Midwest that should support […] Read more
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