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Posts Tagged ‘exports’
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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Thursday, October 7th, 2010
Photo Courtesy of the Des Moines Register
The United States Department of Agriculture released reports that project a record corn crop this year. However, corn crops are not the only crop exceeding expectations this harvest. According to the USDA’s National Agricultural Statistics Service (NASS), soybean crops are expected at 3.43 billion bushels also up 2 percent from the previous year.
Russia, one of the biggest competitors in the market, are not expecting as high of numbers. Across Russia producers are dealing with extreme drought and heat that began in July. This weather caused a huge decline in crop expectations. Estimates currently stand at 8.0 million tons.
Ukraine, also a high competitor, is also dealing with weather-related issues. Heavy rainfall damaged many maturing crops and caused harvest delay across the country. Only 3.0 million tons is expected at the end of harvest.
Due to such problems farmers can expect high exports as well as domestic sales as Russian and Ukraine imports decline.
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Tags: exports, russia, usda
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Wednesday, September 8th, 2010
United States trade representatives are pushing emerging markets like China, Brazil, and India to open their agricultural markets to US trade. According to Ron Kirk, US trade representative, [The US was] “taking the lead in pursuing new trade opportunities, with a special focus on the world’s fastest-growing markets.†In an audience with the Senate Committee on Agriculture, Kirk emphasized that the US is committed to establishing trade partnerships with Asia in the form of “a new, high- standard, 21st century Trans-Pacific Partnership (TPP) Agreement that will ensure American farmers and ranchers access to the region’s dynamic and growing markets for decades to come.â€
As the US seeks to expand agricultural trade, the Obama administration remains committed to guaranteeing that US farmers and ranchers benefit from future trade agreements. By resolving trade disputes, American agricultural producers have benefited from increased access to foreign markets. Kirk’s immediate goals are to remove barriers to US beef, dairy, pork, and poultry products in China, Japan, and other major Asian trading partners.
Agricultural trade is vital to the health and wellbeing of the US economy given that 95% of world consumers live outside of the United States. US agricultural exports are estimated to reach $105 billion in the fiscal year 2010. Kirk estimated that every $1 billion of agricultural exports supports about 8,000 jobs in the United States, and that Obama hopes to double American exports over the next five years adding up to two million jobs to the US economy.
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http://sify.com/news/us-asks-india-china-brazil-to-open-farm-markets-news-international-kifmucacjbd.html
Tags: exports, obama, ron kirk
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Wednesday, September 8th, 2010
As of late July, South Korea is the largest growth market for U.S. beef exports. Prior to last week’s reports, Japan and Egypt were the largest U.S. beef markets.
Joel Haggard of the U.S. Meat Export Federation’s Asia Pacific region said the increase is due to a multi-media imaging campaign that began with focus group interviews with Korean consumers.
“A couple of points that came out after talking after talking to a number of consumers and a number of focus groups; we need to abolish the negative image of BSE and the factory farm, we need to show the U.S. industry commitment preferably from the producer,†Haggard told Brownfield AG News.
According to Haggard, the consumers positively responded to the message. “There was receptivity by consumers to a message which was incorporating something like someone like me,†said Haggard. “I’m in the United States. I’m a producer. But, I’m kind of like you. I have a family. I have kids. I care about the safety of the food I eat. These were some of the touch points.â€
Haggard said the confidence is back with U.S. beef and more consumer are ready to purchase U.S. products. The campaign is aiming to allow consumers to taste different products and refamiliarize themselves with the product.
Haggard says Korean consumers are more confident in U.S. beef—and much more ready to buy.
May exports in 2010 were three times as large as last year.
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Tags: Beef, cattle, exports, south korea
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Wednesday, August 11th, 2010
The House Ways and Means Committee members Dave Camp (R-Mich), Frank Lucas (R-Okl.) and Kevin Brady (R-Texas) have issued statements regarding the third anniversary of a bipartisan compromise designed to move American trade ahead. Although the compromise was issued three years ago, little has been done with the trade policy to help trade move ahead.
The stalling has not improved conditions but instead hurt the American agriculture industry by failing to move ahead on pending trade agreements.
Lucas pointed out that exports are “critical to the vitality of rural America. They add much needed capital in rural communities for reinvestment and economic development.â€
Camp added that the trade agenda has collapsed at this point because of the current administration. “American workers are worse off and falling further behind our competitors as shown by the study we released today.†Camp feels that 15 million Americans are unemployed and instead of talking about creating jobs, the industry needs to focus on export and actually make jobs.
“American farmers and ranchers lose economic opportunities every day that Congress fails to pass the Colombian free trade agreement,†Lucas said.
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Tags: dave camp, exports, frank lucas, house ways and means committee, kevin brady
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Wednesday, August 11th, 2010
The United States agricultural industry is on a rise as exports increase.
Over the last year, U.S. exports for the fiscal 2010 year rose to $104.5 billion in sales, $8 billion more than 2009. This information comes from the Outlook for U.S. Agricultural Trade.
This trade surplus in the agriculture industry is expected to reach $28 billion which is the second highest surplus ever reached in the United States.
The news is positive for the industry that has been struggling over the last couple years. According to the Colorado Farm Bureau, “The report comes on the heels of a historic six-month pace of U.S. agricultural exports, which shattered records with $59 billion in sales in the first half of the fiscal year and generated a 14 percent increase over the same period last year.â€
China has contributed to the growth by purchasing nearly $3 billion in exports during the first half the fiscal year. This means China is currently the United States’ top market.
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Tags: exports, 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
Livestock producers are excited over numbers recorded by the United States Meat Export Federation (USMEF). According to the group imports to Russia have increased from 800 to 1,200 metric tons per week.
“We think this is going to be a good year for exports to Russia,” USMEF Senior Vice President Thad Lively said. These large numbers to Russia have no been seen since 2008, which totaled $95.3 million for the livestock industry.
“This is an area we are very enthusiastic and excited about at this stage in the game,” Lively said. “We track the export sales on a weekly basis and qe’re off to a start this year that could put us on track to equal the export volume we had to Russia in 2008, which was a record year.”
Russia has played an important part in export sales in a variety of meat markets including beef liver and variety meats, but rarely in the beef market as it is now.
“With the exchange rate of the Russian currency to the Brazilian currency, Brazil’s our principal competitor in Russia, (makes the U.S.) very competitive in that market,” Lively said.
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Tags: Beef, cattle, exports, russia
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Monday, February 8th, 2010
USDA secretary Tom Vilsack announced 70 U.S. trade organizations received $234 million in Fiscal Year 2009 to promote American food overseas.
“Agricultural trade is absolutely crucial to the U.S. economy and by providing this funding to U.S. organizations during these difficult economic times will help open new global markets for American food products,” Vilsack said.
The money came from the Market Access Program (MAP) and Foreign Market Development Cooperator Program (FMD). Both organizations work on promoting the marketing and partnership of the U.S. with overseas markets and companies.
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Tags: exports, tom vilsack, usda
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Thursday, May 7th, 2009
After an 11-day Asian trade mission, Iowa Agriculture Secretary Bill Northey has a positive outlook that Iowa soybean exports to China and Taiwan will remain strong despite the current worldwide recession.
Parts of China have been hit hard by manufacturing productions shutdowns that will effect U.S. imports, but the demand for pork and chicken livestock remains constant. This is good news for Iowa.
“They’re not going to be able to produce enough grain, certainly not enough soybeans, to feed their own. They’re going to need imports,†said Northey told the Quad City Times.
“It’s going to continue to grow. It may grow at a little slower pace right now. But I think it’s going to continue to grow and I really think that within the next few years they’ll have a need to import corn as well,†the Iowa agriculture secretary said.
While in China, Northey met with feed manufacturers and soybean crushers that cannot keep up with the demand that increases 10 to 20 percent each year. Because they cannot keep up domestically, they must look to outside sources.
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Tags: asia, exports, iowa
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