Washington | Reuters — The Trump administration’s second package of aid for U.S. farmers hit by the trade war with China is expected to have a similar structure to last year’s program, using direct payments and commodity purchases, industry sources briefed on the plan said. The U.S. Department of Agriculture is still finalizing the plan, […] Read more
New Trump aid plan for U.S. farmers to rely on direct payments
U.S. grains: Soybeans hit 10-year low on trade tensions
Chicago | Reuters — U.S. soybean futures fell to their lowest in a decade on Monday as escalating U.S.-Chinese trade tensions dampened hopes for a revival in soybean exports, analysts said. At the same time, planting delays in the U.S. Midwest could prompt farmers to shift some acres intended for corn to soybeans, potentially adding […] Read more
USDA sees smaller soy crop in 2019, more corn
MarketsFarm — U.S. farmers will grow more corn and fewer soybeans in 2019, according to the first production estimates of the year from the U.S. Department of Agriculture. Ending stocks of both crops are expected to remain large. U.S. soybean production for 2019-20 was forecast at 4.15 billion bushels by the government agency, which would […] Read more
U.S. grains: Soy sinks to decade low as China trade war escalates
Chicago | Reuters — U.S. soybean futures sank to their lowest prices in more than a decade on Friday as U.S. President Donald Trump said he was in no hurry to sign a deal to end the trade war with Beijing, a dispute that has slashed U.S. exports of the oilseed to China. Wheat futures […] Read more
U.S. grains: Soy futures break 10-year low on China trade tensions
Chicago | Reuters — U.S. soybean futures tumbled to their lowest prices in more than a decade on Thursday as traders worried that make-or-break trade talks between Washington and Beijing would fail to produce a deal. Corn and wheat futures also fell as a two-day U.S.-China trade meeting was set to begin in Washington. President […] Read more
U.S. grains: Prices slip as weather outlook favours corn planting
Chicago | Reuters — U.S. grain and soybean futures slumped on Wednesday as forecasts for drier weather in the U.S. Midwest next week fueled hopes that farmers will be able to make progress planting corn after delays. Large inventories of the crops added pressure on the markets, which also remained nervous about trade tensions between […] Read more
U.S. livestock: CME lean hogs limit up on technical buying, export hopes
Chicago | Reuters — U.S. lean hog futures rallied sharply on Wednesday with several contracts closing up the daily trading limit on technical buying and speculation that Chinese demand for U.S. pork is poised to grow. The U.S. Department of Agriculture (USDA) is due to release weekly export sales data early on Thursday and traders […] Read more
CBOT weekly outlook: Weather, trade talks strong influences
MarketsFarm — Forecasts calling for more precipitation in the U.S. and trade talks with China are having powerful effects on prices at the Chicago Board of Trade this week from where one analyst sits. Steve Georgy of Allendale Inc. in McHenry, Ill. said the forecast has been driving soybean prices to new contract lows. Already […] Read more
No fresh aid package for U.S. farmers planned for now, Perdue says
Washington | Reuters — The Trump administration does not have any active plans to provide more aid to farmers at the moment but can consider the option if the trade negotiations and weak commodity prices linger, U.S. Secretary of Agriculture Sonny Perdue said on Tuesday. “We have been very clear to the agriculture community that […] Read more
Trump administration eyes more aid to farmers if necessary
Washington | Reuters — The Trump administration is ready to provide more federal aid to farmers if required, a White House adviser said on Monday, after rolling out up to US$12 billion since last year to offset agricultural losses from the trade dispute with China. “We have allocated $12 billion, some such, to farm assistance. […] Read more