WASHINGTON/CHICAGO (Reuters) – President Donald Trump on Friday announced a US$19 billion relief program to help U.S. farmers cope with the impact of the coronavirus pandemic, including $16 billion in direct payments to farmers and ranchers and mass purchases of produce, meat and other products. “American agriculture has been hard-hit, like most of America, with […] Read more
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Coronavirus disrupts China meat imports, food supply during pork shortage
CHICAGO, (Reuters) – Coronavirus is disrupting meat shipments to China as the country faces a shortage due to an outbreak of a fatal pig disease, Tyson Foods Inc and U.S. agricultural groups said last week. An outbreak of African swine fever, which infects only pigs, has decimated China’s herd, pushing Chinese pork prices to record […] Read more
Bunge profit tops estimates on strong South American agribusiness results
CHICAGO, (Reuters) – Agricultural commodities trader Bunge Ltd reported a stronger-than-expected quarterly profit on Wednesday as rising crop prices boosted farmer sales in South America and swelled margins in its large agribusiness segment, sending shares up more than three percent in pre-market trading. But uncertainty about global trade and demand for Bunge’s food and feed […] Read more
Hopes for spike in U.S. farm exports to China dim ahead of trade deal signing
CHICAGO/BEIJING, (Reuters) – Days before a U.S.-China trade deal is due to be signed, large Chinese purchases of Brazilian soybeans and a pair of unexpected policy moves by Beijing have dimmed U.S. hopes that China would double its imports of American farm products this year. U.S. President Donald Trump has touted the prospect of China […] Read more
China’s swine fever outbreak more severe than previously thought
CHICAGO, (Reuters) – China’s African swine fever outbreak is far more severe than previously thought and the full impact of the disease on animal feed producers has yet to be realized, U.S. agribusiness company Archer Daniels Midland Co said on Wednesday. The fatal pig disease has slashed China’s hog herd by as much as half […] Read more
Trade war sinks North Dakota soybean farmers
COLFAX, North Dakota (Reuters) – North Dakota bet bigger on Chinese soybean demand than any other U.S. state. The industry here – on the far northwestern edge of the U.S. farm belt, close to Pacific ports – spent millions on grain storage and rail-loading infrastructure while boosting plantings by five-fold in 20 years. Now, as […] Read more
As trade war drags on, new Bunge CEO looks to avoid ‘stroke-of-the-pen’ risk
CHICAGO, (Reuters) – A year removed from a losing bet that the U.S.-China trade war would be promptly resolved, global grains trader Bunge Ltd is facing an even more uncertain business environment, with a new chief executive who is determined not to get burned again. Gregory Heckman, who joined Bunge’s board late last year and […] Read more
American ag to China smaller, now stopped
China bought small amounts of American soybeans, wheat, sorghum and pork last week ahead of the latest escalation of trade tensions with Washington, according to United States government data issued recently, in what may be the last American farm commodity sales to China for the foreseeable future. China’s Ministry of Commerce said last week that […] Read more
China bought U.S. pork last week as Beijing declared halt in U.S. farm purchases
CHICAGO, (Reuters) – China made its biggest purchases of U.S. pork in seven weeks last week as Beijing said Chinese companies suspended purchases of American agricultural products, according to U.S. Department of Agriculture data issued on Thursday. The world’s largest pork consumer bought 10,211 tonnes of U.S. pork between Aug. 2-8 for shipment in 2019 as a […] Read more
U.S. confirms light soy, wheat, pork sales to China before latest tariff threats
CHICAGO, (Reuters) – China bought small amounts of U.S. soybeans, wheat, sorghum and pork last week ahead of the latest escalation of trade tensions with Washington, according to U.S. government data issued on Thursday, in what may be the last American farm commodity sales to China for the foreseeable future. China’s Ministry of Commerce said […] Read more
