In this file:
· China cuts 2019/20 corn use forecast by 2 million tonnes due to African swine fever
… Beijing is encouraging less planting of corn in some areas in the far north and higher output of soybeans instead...
· Corn Exports Plunge but Trump "Not Ready to Make a Deal With China"
Trade tensions will not go away as Trump keeps fanning the flames while putting on an air of nonchalance…
China cuts 2019/20 corn use forecast by 2 million tonnes due to African swine fever
Reporting by Dominique Patton; Editing by Kenneth Maxwell, Reuters
via KFGO (ND) - August 12, 2019
BEIJING (Reuters) - China's agriculture ministry on Thursday said it was lowering its forecast for corn consumption in the 2019/20 crop year amid outbreaks of African swine fever across the country.
The ministry said corn consumption was now seen 2 million tonnes lower than last month's forecast at 280 million tonnes because a huge fall in the pig herd was reducing demand for feed. African swine fever is fatal to pigs, though it doesn't harm humans.
China has said its sow herd declined by a record 23.9% in May from a year earlier, but some estimate the number to be twice that level.
While demand will be lower, the country also planted less corn, the ministry said in its monthly crops report, thanks to a greater-than-expected shift in the type of crops being grown.
Beijing is encouraging less planting of corn in some areas in the far north and higher output of soybeans instead...
Corn Exports Plunge but Trump "Not Ready to Make a Deal With China"
Mike “Mish” Shedlock, Sitka Pacific Capital Management,Llc
via FX Street - Aug 11, 2019
Trade tensions will not go away as Trump keeps fanning the flames while putting on an air of nonchalance.
In the non-surprise of the day, Trump Says China Meeting Might Not Happen.
“We’re not ready to make a deal, but we’ll see what happens,” Mr. Trump told reporters Friday morning. “We will see whether or not China keeps our meeting in September.”
Global markets have swung this week after moves from China’s central bank triggered fears that the trade fight with the U.S. could spread to a new front in the foreign-exchange markets.
What began as a rout on Monday--with U.S. stocks suffering their worst one-day drop of the year--reversed course as Beijing didn’t take as aggressive a stance on weakening the yuan as some investors had feared. The S&P 500 rebounded 1.9% on Thursday, before resuming its drop today. All three major U.S. indexes are on pace to finish the week in negative territory.
Corn Exports Dive
Reuters reports U.S. Corn Exports Dwarfed by Brazil, Soy Shipments Ride on China.
According to data published on Friday by the U.S. Census Bureau, the United States exported 3.07 million tonnes of corn in June, the smallest June volume in six years and the smallest for any month since November 2017. This was also off 57% from last June’s blockbuster performance.
U.S. corn shipments in the first 10 months of the 2018-19 marketing year that began Sept. 1 totaled 46.6 million tonnes (1.84 billion bushels). That is down 5% from a year earlier, and June was the first month in which 2018-19 corn exports slipped behind those of the previous year.
The United States still had 6.7 million tonnes of corn to export during the final two months of the current marketing year to meet the full-year forecast of 53.3 million tonnes (2.1 billion bushels) set by the U.S. Department of Agriculture. That target had been as high as 62.9 million tonnes (2.475 billion bushels) last October.
July and August shipments need to average 3.36 million tonnes to meet that expectation, which is well below the recent average, but weekly export inspection data from the USDA suggests that July may have fallen short of that mark.
Brazil Corn ...
Monthly Soybean Exports Non-China ...
Trade is Normally Fungible ...
Food Prices Surge in China ...
Winning Not ...
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