Trump’s Phase 1 China trade deal may not save soybean farmers
in October he said that China would be buying $40 to $50 billion in U.S. agricultural products. However, no time frame has been given and the details for Phase One are still being hammered out.
If China has stepped up its soybean purchases or if the market believes that it will there should have been a rebound in its price. Unfortunately, it seemed to peak right after Phase One was announced and has recently gone on a skid to under $9 per bushel.It is important to know how important soybeans are to American farmers. In 2018 the value of corn was $51.5 billion, with soybeans coming in second at $39 billion. The next largest crop was hay, a distant third at $17 billion.
However, soybean exports to China fell by 53% in the 2018-2019 marketing year or by 546 million bushels. Assuming an average price of $9 per bushel this created $4.9 billion in lost income.While there was a pickup in exports to other countries, the net impact was just under 100 million bushels or $900 million. Overall soybean farmer’s income took about a $4 billion hit from the export market.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Dollar hits one-week high on yen as U.S.-China trade deal hopes riseThe dollar held an upper hand against the yen on Tuesday as optimism on a trade ...
Leer más »
Revisiting the King of Hip-Hop's Emo Phase: Lil Wayne's 'Rebirth'This is the latest episode of Not a Phase, a weekly video series where Jezebel remembers some of the most delightfully cringe-worthy phases of a celebrity’s life, even though they would probably like us to forget.
Leer más »
Asian shares climb as Trump says US-China trade deal nearsUS president's upbeat comments on trade stoked confidence in Asia. Experts say 'accommodative Fed and accommodative monetary policy' are likely driving the markets, calling US-China trade headlines just 'noise' that works in the short-term.
Leer más »
Exclusive: China sets up Hong Kong crisis center in mainland, considers replacing chief liaisonEXCLUSIVE: A villa located just across Hong Kong’s border with the mainland is serving as a crisis command center for top Chinese officials managing Beijing’s response to protests in the restive city by QiZHAI jamespomfret DavidKirton_
Leer más »
Pompeo chides China for ‘very significant human rights abuses’ revealed by leaked documentsSecretary of State Mike Pompeo said Tuesday that a cache of leaked documents proves that Chinese authorities are engaged in massive and systemic repression of Muslims and other minorities in western China, as a number of foreign governments expressed serious concern about the scale of the campaign.
Leer más »
Special Report: How Hong Kong's greatest tycoon went from friend of China to punching bagIn January of 1993, an ambitious Chinese Communist Party boss, a 39-year-old off...
Leer más »