Naperville, Ill. | Reuters – China is on track to be the leading international buyer of U.S. agricultural products for a third consecutive year, as the total value of exported goods reached record levels in the first half of 2022. Some of that can be explained by increased trade volumes of certain items, particularly beef, but […] Read more
China’s U.S. ag imports soar to new highs in 2022, but volumes vary
Pork exports could see decline
Reading Time: < 1 minute Global pork exports are expected to fall this year because of reduced demand by China and the Philippines and “ample supply,” notes provincial livestock market analyst Ann Boyda, but there are also opportunities for exporters. “There are growing appetites around the globe and the largest increase in consumption may take place in developing countries,” Boyda […] Read more
Fallout from Russian invasion could last all year
Reading Time: < 1 minute Alberta Pork is warning its producers that feed costs could stay high throughout the year because the invasion of Ukraine by Russia has not only halted the country’s grain exports but disrupted trade patterns. “China’s need to fill the grain market void left by Ukraine is expected to push prices higher,” the organization said in […] Read more
China calls for overhaul of farm subsidy rules under WTO
Beijing | Reuters – China on Thursday called for the removal of “enormous” farm subsidies in some developed countries as part of Beijing’s push for reform of the World Trade Organization. “There are very unfair rules in the agriculture sector, and enormous subsidies some developed country members are entitled to, that severely distort international agricultural trade,” Wang […] Read more
CBOT weekly outlook: Potential U.S.-China trade deal moving markets
Speculation regarding a potential trade deal between the United States and China is sparking movement on the Chicago Board of Trade (CBoT). Ryan Ettner, broker for Allendale Inc. in McHenry, Ill., said there was optimism on the markets last week when trade representatives from both nations restarted talks. With the countries’ current deal expiring at […] Read more
Backhaul gets the heave-ho in red-hot shipping container market
Container shipping in a mess, not expected to restore itself at least until 2022
Reading Time: 4 minutes The shipping container mess created by the pandemic will likely last until at least 2022, says the vice-president of a West Coast container transloading company. “Steamship lines across the globe are all playing catch-up with the import movements from across Asia and North America,” said Jordan Atkins, vice-president of WTC Group in New Westminster, B.C. […] Read more
Slow U.S. corn shipments could pressure supply forecasts
Reuters – The United States has already secured a record corn export campaign for the nearly concluded season, but the shipments are unlikely to match the government’s current forecast because the pace has recently been too slow. Disappointing export inspections last week – a marketing year low – might be an indication that the U.S. […] Read more
India to launch $1.48 bln plan to raise oilseed output, cut imports
New Delhi | Reuters – India will launch a 110 billion rupee ($1.48 billion) plan to boost domestic oilseed production to make the country self-sufficient in edible oil, Prime Minister Narendra Modi said on Monday, a move that will cut costly vegetable oil imports. India is the world’s biggest vegetable oil importer and spends an […] Read more
Alberta’s agri-food sector can be a ‘global mega-power’
Reading Time: 2 minutes Alberta “is sitting in an ideal position” to be a major player in the international agri-food sector if it seizes the day, says a new report. But the province needs to develop a value-added industry, focus on sustainability and leverage trade deals that the country has negotiated, says the report from the University of Calgary’s […] Read more
ADM quarterly profit surges amid strong U.S. corn exports to China
Reuters – U.S. grain merchant Archer-Daniels-Midland Co on Tuesday reported quarterly profit leapt 52 percent due to strong exports and oilseed crushing margins. The bigger-than-expected earnings sent shares to a two-week high and extended a recovery from the COVID-19 pandemic, which last year hurt demand for the company’s ethanol and food products. Shares were up […] Read more
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