Washington | Reuters –– The Trump administration on Thursday unveiled a US$16 billion farm aid package to offset losses from a 10-month trade war with China and said payment rates to farmers would be determined by where they farm rather than what crops they grow. The package, the bulk of which will be spent on […] Read more
USDA announces more farm aid to offset trade war losses
U.S. grains: Corn sinks as trade aid seen encouraging planting
Chicago | Reuters — U.S. corn futures dropped for the first time in nine sessions on Thursday after the U.S. Department of Agriculture (USDA) unveiled a farm aid package that could encourage farmers to plant more corn despite adverse weather this spring. Soybeans and wheat also declined as the USDA announced a $14.5 billion direct […] Read more
CBOT weekly outlook: Trade volatile ahead of USDA announcement
MarketsFarm — The Chicago Board of Trade saw “a wild ride of volatility” on Wednesday, following rumours of a U.S. Department of Agriculture farm aid package that could top US$15 billion. The package would include payments of about $2 per bushel for soybeans and four cents per bushel for corn, according to Bloomberg. An official […] Read more
U.S. grains: Soybeans rebound in technical bounce, trade aid details awaited
Chicago | Reuters — U.S. soybean futures rebounded on Wednesday in a technical correction from the prior session’s drop as the market awaited details of a Trump administration farm aid package that could encourage farmers to plant more soybeans. Corn ended firm, although spillover support from higher soy and worries over rain-delayed U.S. planting were […] Read more
U.S. to favour soybeans in trade war aid for farmers
Washington/Chicago | Reuters — The Trump administration is considering direct payments to U.S. farmers of $2 per bushel for soybeans as part of an aid package to offset the trade war with China, Bloomberg reported on Tuesday, an offer that could encourage more soy planting despite record supplies. China is the world’s top soybean importer, […] Read more
U.S. grains: Corn touches one-year high on slow U.S. planting
Chicago | Reuters — U.S. corn futures climbed for a seventh session to their highest in a year on Tuesday as rainy weather and soggy fields across the U.S. corn belt stalled spring planting. Wheat also advanced on worries about winter crop damage due to heavy rains and flooding in the southern U.S. Plains. Soybeans […] Read more
Japan opens doors to full access of U.S. beef imports
Washington | Reuters — Japan has agreed to eliminate its long-held restrictions on U.S. beef imports, opening full access to U.S. cattle products after more than 15 years, the head of the U.S. Department of Agriculture said in a statement on Friday. “The new terms, which take effect immediately, allow U.S. products from all cattle, […] Read more
U.S. to begin testing sick and dead pigs for African swine fever
Chicago | Reuters — The U.S. Department of Agriculture within weeks will begin testing sick and dead pigs for a hog virus that has killed herds across Asia in an effort to minimize devastation if the disease enters the United States, the agency said on Thursday. Increased testing aims to help U.S. officials detect cases […] Read more
China cancels U.S. pork import order as trade war drags on
Chicago | Reuters — The same week U.S. President Donald Trump announced sweeping increases on tariffs against Chinese goods, Chinese buyers dropped orders for 3,247 tonnes of U.S. pork — the biggest cancellation in more than a year, according to U.S. Department of Agriculture data released on Thursday. The cancellation came during the week ended […] Read more
CBOT weekly outlook: Factors come together to boost prices
MarketsFarm — A combination of three factors have contributed to the bounce in prices at the Chicago Board of Trade, according to Rich Feltes of R.J. O’Brien in Chicago. “It’s the convergence of the middle of May, which is a critical time and the confirmation that planting is not only delayed, but it’s in for […] Read more