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Posts Tagged ‘china’
Sunday, May 1st, 2011
A recent agreement between the Maryland Department of Agriculture and the Chinese government could prove to be a significant boost for the state’s struggling horse industry. The Maryland thoroughbred industry has been on the decline in recent years, partly due to competition from neighboring states and partly due to political inertia and a general unwillingness to protect the industry.
On the surface, China seems an unlikely venue to revive the thoroughbred industry. Horseracing is illegal in China and the cost to ship horses is significant. However, Maryland horse breeders see a golden opportunity in the recent Chinese interest in Maryland horses. Currently, Maryland horses are already shipped internationally, and adding China to the list would do much to boost revenues.
Larry Murray, owner of Glade Valley Horse Farms, predicts that China might legalize horseracing and sees the importation of Maryland thoroughbreds, currently used in Western style riding demonstrations in China, as a critical step towards that goal. Maryland Secretary of Agriculture Buddy Hance has also praised the sales, lauding Maryland horses’ genetic quality.
Maryland horse breeders are hopeful that the federal government could soon see the value in these sorts of trade agreements. While the horse-trade is legal, some breeders have claimed that minor regulations are currently adding an unwanted level of difficulty in their sales.
To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmplusfinancial.com.
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Written by: Justin Ellison / Farm Plus Staff Writer
Tags: china, horse breeding, Maryland
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Friday, March 25th, 2011
According to a recent government report, Chinese trade barriers block up to $5 billion in U.S. farm sales. China is currently one of the world’s largest producers and consumers of agricultural products, a status gained, in part, by the rapid rise of the Chinese middle class and China’s massive economic expansion. The United States is currently the largest supplier of agricultural products to China. In 2010, the U.S. sold over $17 billion of farm products to China, mostly soybeans and animal feed.
Despite this mutual agricultural relationship, the Chinese government continues to block certain agricultural products. China maintains non-tariff barriers on U.S. meat, largely on American beef and pork exports. Pork importation, for example, is blocked in China due to fears of the swine flu (fears largely ungrounded according to the World Health Organization). While the United States International Trade Commission (USITC) has not found a concerted effort by the Chinese government to block U.S. exports, the U.S. government is seeking to lower some of the Chinese barriers to help facilitate international trade.
In a press release, Senator Max Baucus (D-South Dakota) stated, “China is our number one market for US agricultural product exports, but China’s unjustified trade barriers are blocking some of our goods such as wheat and beef and hurting job growth in the US.”
While the Chinese government has revered several trade barriers (lowering some of the bans on beef imports in December) the U.S. Senate hopes to negotiate further concessions from China, which would largely benefit both nations economically.
To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmplusfinancial.com.
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Written by: Justin Ellison / Farm Plus Staff Writer
Tags: china, max baucus, USITC
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Sunday, March 20th, 2011
 agricultural loans - food prices
According to the U.S. Department of Labor, food prices have reached a thirty year high. The higher prices, caused by a variety of factors, have been felt in the United States. Consumers, naturally, are unhappy with higher food prices, particularly in light of the continued economic decline in the U.S., while farmers are generally pleased with increased revenue.
The causes of the price increases are varied. Inflation, naturally, has played a role in driving up food prices. High fuel costs and the increasing cost of gasoline in the U.S. has also played a major role in raising production costs and driving up the final price for food and agricultural products. Another factor is the U.S.’s increasing use of ethanol. Increased ethanol production leads to less corn being used for general consumption and increased prices.
A significant factor in rising food prices is shifting consumption patterns worldwide. Asian states like China and India have recently seen a rising and increasingly powerful middle class. As developing nations expand their middle class, diets heavily dependent on staple grains tend to give way to diets rich in proteins (as are common in first world states like the U.S.). Increased overseas demand for agricultural products and livestock has helped increase commodity prices at home, driving up food prices.
The rise of the Chinese middle class has led many experts to predict that food prices will remain high in the foreseeable future. With more of the world consuming at first world levels, competition and prices will remain high as surpluses decrease.
To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmplusfinancial.com.
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Written by: Justin Ellison / Farm Plus Staff Writer
Tags: china, food prices
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Tuesday, February 22nd, 2011
Soybean sales reached their largest single day sale last week, shortly after a visit to the United States by Chinese President Hu Jintao. Private exporters agreed to sell 2.74 million tons of soybeans in the 2011-2012 marketing year, an increase from the previous sales high, 2.2 million, set in 2008.
This announcement tied into the recent visit by President Jintao, as China is the world’s largest importer of soybeans. Driven by a rising middle class appetite for pork and chicken products, fattened by soybean based feeds, China has been rapidly purchasing US soybean exports and currently imports 1 out of every four soybean rows grown within the United States.
President Jintao’s visit coincided with a series of purchase agreements between the United States and China. The recent sale, as well as news of the US-Chinese trade talks, helped lower the price of soybean, which have fallen for the March delivery, dropping roughly 19 cents, to $13.85 a bushel, according to the Chicago Board of Trade. “The market had already anticipated that we’d be seeing some sales,” said Brian Hoops, president of Midwest Market Solutions, a South Dakota commodities brokerage house.
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Written by: Justin Ellison / Farm Plus Staff Writer
Tags: china, exports, hu jintao, soybean
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Friday, February 18th, 2011
Soybeans are used in a variety of items to substitute important nutrients. U.S. soybeans are in high demand around the world, especially in China. The United States Department of Agriculture predicts the United States predicts the U.S. will export 1.596 billion bushels of the oilseed in 2011.
To meet the demands of the USDA’s prediction, the United States must export 10 million bushels a week. To date China confirmed a contract for 1.13 billion bushels in 2011.
“It’s real demand,” Al Kluis, trader, analyst and charter told The Prairie Star. “They have been buying from the U.S., and odds are they will continue to buy from the U.S. China is unloading inventories, stored and all, and still, prices have been higher. They have a tremendous need for corn, soybean and bean meal. They are not buying to speculate, they are buying to consume.”
In 2010 exports were higher than expected and experts believe this trend will continue. The USDA believes Argentina will become an important as heavy rainfalls continue to destroy crops across the country.
For more information contact Farm Plus Financial at 866-929-5585 or visit us online at www.farmplusfinancial.com.
Written by: Melissa Warner / Farm Plus Staff Writer
Tags: al kluis, china, prairie star, soybeans, usda
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Friday, July 16th, 2010
April has been a promising month for corn producers with near record numbers on the Chicago Trade Board, and all thanks to a large purchase from China. Soybean producers may be as lucky as harsh weather conditions threaten China’s farmers.
China purchased 120,000 metric tons of oilseed for delivery before September 1 according to the United States Department of Agriculture. The same report states that China ordered an additional 691,000 tons for delivery for the remainder of the year after that.
Bill Nelson, a senior economist for Doane Agricultural Services in St. Louis, said, “Another sale of soybeans to China is supporting the rally. The market is getting a bullish kick from the Chinese purchase of U.S. corn.”
A grain administrator in China added that stockpiles of grain and cooking oil need to be increased to help stabilize prices on the current market.
Farmers are planting extra acres of soybeans to meet the demand according to the USDA. Nelson added, “The fast pace of corn plantings is giving soybeans a boost.”
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Tags: china, exports, soybeans
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Thursday, May 27th, 2010
Exports are one of the most important sources of income for farmers in the United States. As crop production increases across the world, exports have been decreasing and putting a strain on the agriculture industry. However, the Chicago Trade Board reported on April 29 that China is looking to increase imports.
Currently China is the second-largest corn producing country in the world. China purchased 115,000 metric tons of corn from the United States so far and more sales are expected in the near future. This is the largest purchase since 2001 according to the United States Department of Agriculture.
Corn production in China is expected to drop due to cold weather and excessive rain pushing behind the planting schedule.
According to business week corn for July delivery increased 0.8 percent up to $3.67 a bushel on the Chicago Board of Trade at 1:14 p.m. in London on April 28. Soybeans and wheat crops have also increased on the board for July deliveries.
Federal Reserve stated interest rates likely to rise. Refinance your farm loan before rates go up. Call a representative by dialing 866-929-5585 or visit us online.
Tags: china, corn, imports
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