CNS Canada — After a wild week in which the Chicago Board of Trade (CBOT) soybean market plunged, following China announcing tariffs on imports of U.S. soybeans, it has recovered. China on Thursday announced plans for a 25 per cent tariff on U.S. soybean imports in retaliation of previously announced tariffs by the U.S. on […] Read more
CBOT weekly outlook: Soy recovers from wild week
Tariffs raise tough questions for pork industry
CNS Canada — Representatives from the two largest pork-exporting states in the U.S. were in Winnipeg Thursday to take in the Manitoba Pork Council’s general meeting. The delegates, who hailed from Iowa and Minnesota, talked about the various challenges facing their industry. In 2017, over a quarter of the U.S. pork industry’s C$6.5 billion market […] Read more
Pulse weekly outlook: China/U.S. dispute could open window for peas
CNS Canada — As trade tariffs between China and the U.S. mount, so too does the potential for other countries to swoop in and plug the gap in whatever market may need filling. While U.S. soybeans are the most significant of the crops included so far in the tit-for-tat battle of proposed tariffs, it seems […] Read more
U.S. lawmakers skeptical of promises to shield farmers from trade dispute
Overland Park, Kan. | Reuters — U.S. lawmakers and the farm industry were skeptical of the Trump administration’s promise to shield farmers from the rapidly escalating trade dispute between the U.S. and China, concerned about the lack of details in protecting the agricultural export sector now embroiled in the back-and-forth. Major farming states supported U.S. […] Read more
U.S. grains: Soybeans close firm despite trade threats
Chicago | Reuters — U.S. soybean futures rose on Friday, with traders shrugging off rhetoric about escalations in a trade war between China and the U.S. to focus on fresh export deals. China warned on Friday it was fully prepared to respond with a “fierce counter strike” of fresh trade measures if the U.S. follows […] Read more
U.S. grains: Soybeans rally as market digests Chinese tariff threat
Chicago | Reuters — Chicago soybean futures rallied more than one per cent on Thursday as investors played down the immediate impact of proposed Chinese tariffs on U.S. supplies, a move that had sent prices plunging a day earlier. U.S. wheat futures jumped as much as two per cent, lifted by worries that cold temperatures […] Read more
Trump proposes US$100 billion more in new tariffs on China
Washington | Reuters — U.S. President Donald Trump said on Thursday he had instructed U.S. trade officials to consider US$100 billion in additional tariffs on China, fueling an already heated trade dispute between the world’s two biggest economies. Trump said in a statement the further tariffs were being considered “in light of China’s unfair retaliation” […] Read more
CBOT weekly outlook: Soybeans wade through turbulent trade waters
CNS Canada — Soybean futures on the Chicago Board of Trade suffered sharp losses Wednesday after China said it would slap a 25 per cent tariff on soybean imports in retaliation for U.S. sanctions that had been placed on it. The dominant May contract plummeted 55 cents to $9.83 a bushel, before bargain-hunters stepped in […] Read more
ICE weekly outlook: Canola watching U.S./China spat
CNS Canada — ICE Futures Canada canola contracts moved steadily higher over the past week as grain markets reacted to a mounting trade dispute between China and the U.S. While no sanctions are yet in place, the back-and-forth sabre-rattling between the two countries now includes proposed Chinese tariffs on U.S. soybeans, which weighed heavily on […] Read more
U.S. livestock: CME live cattle shrug off China beef tariff news
Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Wednesday, after bargain buying reversed earlier losses following China’s proposed tariff increase on U.S. beef, said traders. China listed beef and other U.S. goods that may incur a 25 per cent duty by the end of May if Washington makes good on threats […] Read more
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