The American Soybean Association recently submitted comments on the Section 301 tariffs to the United States Trade Representative during the 30-day open comment period. USTR recently initiated an investigation under Section 301 of the Trade Act of 1974 into the government of China’s acts, policies, and practices related to technology transfer, intellectual property, and innovation. A slew of tit-for-tat tariffs …
USDA Projects Smaller Corn, Soybean Crops
The May World Agricultural Supply and Demand Estimates from the Department of Agriculture projects smaller corn and soybean crops this year. The corn crop is projected at 14.0 billion bushels, down from last year with a lower forecast area and yield. The yield projection of 174.0 bushels per acre is based on a weather-adjusted trend assuming normal planting progress and …
Bunge: China Has Stopped Buying U.S. Soybeans
China has stopped buying U.S. soybeans as a result of a trade war between the two nations. Bunge Ltd. CEO Soren Schroder told Bloomberg this week that China is instead buying soybeans from Canada and Brazil. China last month announced the planned tariff on U.S. soybeans, shifting the nation’s buying habits. The tariffs are part of an ongoing trade dispute …
Soybean Growers Talking Tariffs, Trade on Capitol Hill
American Soybean Association farmer-leaders from across the country are on Capitol Hill this week to talk with lawmakers about the potential impact of Chinese tariffs on U.S. soybeans. ASA President John Heisdorffer says China purchases 61 percent of U.S. soybean exports, as well as 30 percent of the overall U.S. soybean production. “In short, trade with China matters and is …
Soybean Farmers Can’t Replace Chinese Business
U.S. soybean exports could drop as much as 65 percent if the back-and-forth trade rhetoric battle between the two largest economies causes China to slap on retaliatory tariffs. Politico says that number comes from a soon-to-be-published report out of Purdue University. Earlier this month, China said it will put a 25 percent tariff on U.S. soybeans if President Trump follows …
ASA President Testifies to Congress Regarding Trade Tariffs
The American Soybean Association President says retaliation by China against U.S. tariffs would undercut prices received by soybean farmers, and further hurt a depressed farm economy. Testifying to lawmakers Thursday, ASA President John Heisdorffer asked members of Congress to help soybean farmers “be part of the solution,” rather than “collateral damage.” Heisdorffer, an Iowa farmer, highlighted the importance of maintaining …
WASDE Report Predicts Record Soybean Crop for Brazil
The latest World Agriculture Supply and Demand (WASDE) Report from the Department of Agriculture shows Brazil is reaching a record soybean planting. USDA predicted a record Brazilian soybean crop in the report Tuesday of 115 million metric tons, or 4.2 billion bushels. Domestically, U.S. soybean supply and use changes for 2017/18 include increased crush, lower seed and residual use, and …
Proposed Tariffs Realigning Soybean Trade
The proposed tariffs on U.S. soybeans as part of the trade war beginnings between China and the U.S. is shifting trade habits. Trump announced the intention last week to seek $100 billion of tariffs on additional Chinese products, which comes after China announced intention of a 25 percent soybean tariff. Data from the Department of Agriculture Friday shows other nations …
Chinese Ambassador on Possible Soybean Trade Sanctions
As the world’s two largest economies appear to be moving closer to a possible trade war, U.S. Ambassador Terry Branstad is warning China about the consequences of trade sanctions on U.S. soybeans. Branstad told Bloomberg Television that any attempts to cut down on U.S. soybean imports would hurt Chinese consumers more than it would American farmers. The crop provides a …
Soy Growers Worried About Possible Trade Disruptions at U.S. Ports
The American Soybean Association and its grower-members are urging labor union and port management representatives to get back to the negotiating table and resume bargaining talks. The ASA is concerned about possible trade disruptions at East Coast and Gulf of Mexico ports, which would negatively impact agricultural and food product exports to key markets. The ASA joined several industry stakeholders …