CHICAGO China may be a minor participant in global grain trade, especially relative to the volume it consumes, but recent policy changes, the trade war with the United States, and the spread of African swine fever in its hog herds have drawn traders' attention to all things China.
CHICAGO Canada has not exactly declared a trade war on China, but it might seem that way for the country’s canola farmers who have cut plantings for this year, somewhat mirroring the plight of U.S. soybean farmers across the southern border.
CHICAGO Speculators reached record levels of bearishness in Chicago-traded grain and oilseeds last week as global supplies continue to expand in the absence of any serious threats to crops on the horizon. Commodity funds were net sellers across the board last week and they have not changed their minds in the days since. (https://tmsnrt.rs/2IyRdnn)
FORT COLLINS, Colo. Even with an ongoing trade war, China was the top destination for U.S. soybeans during the first half of the current marketing year, and the Asian country will help determine whether American beans can meet the U.S. government's full-year export targets.
WINTER PARK, Colo. Speculators established yet another record bearish position in Chicago-traded corn last week, but any short-covering rally in futures that might result is likely to be lackluster.
FORT COLLINS, Colo. One year ago, the U.S. soybean market realized its worst fear: China announced plans to put tariffs on the U.S. oilseed along with a handful of other imports in response to the U.S.-imposed duties on Chinese goods.
FORT COLLINS, Colo. As if the ongoing trade war with China is not enough, the U.S. agriculture market is now uneasy over a potential border closure with vital agriculture trading partner Mexico as immigration issues continue to flare in Washington.
FORT COLLINS, Colo. Speculators began to cover massive short positions in Chicago-traded grains and oilseed futures last week, but they were sent back to their bearish ways with weighty supply numbers from the U.S. government on Friday.
FORT COLLINS, Colo. Corn might be best poised to lead any moves in Chicago-traded futures on Friday when the U.S. government publishes planting and stocks data, as the current supply situation for the crop is more precarious than that of soybeans.
FORT COLLINS, Colo. The 2018-19 marketing year has so far been the busiest for U.S. corn shippers in more than a decade, but the export pace in the final few months of the season might turn out to be less exciting.