Trade tensions between the U.S. and China are taking a new turn with the release of a propaganda video by China’s Foreign Ministry.
Arlan Suderman, Chief Commodities Economist for StoneX, discussed the video’s purpose and its impact on global trade.
“China’s Foreign Minister released a video with bilingual subtitles, titled ‘Never Kneeled Down,’ and it was obviously a propaganda video, but its purpose seemed to be to get other countries to join it in standing up against the ‘bulling of America,’ and China is trying to get other countries to stand beside it. Because it knows it’s heard that there’s a hundred countries that want to negotiate lower tariffs, and it is expecting what I’ve said previously, that those negotiations will include clauses that help contain China.
Corn inspections remain strong year-to-date, while China’s soybean and sorghum movement remains important to late-season export demand.
At the center of the announcement is the Blue Point Project in Louisiana, a $3.7 billion ammonia facility, USDA says, that will become the world’s largest ammonia plant once completed.
RealAg Radio’s Shaun Haney joins us to discuss Canadian farmer sentiment, saying many are also struggling with profitability and long-term outlook in agriculture.
USMEF President and CEO Dan Halstrom joins us to discuss China’s renewed access for U.S. beef facilities, the outlook for exports, and key conversations taking place at this week’s Spring Conference.
Strong rail and ocean demand support grain movement, but weak barge traffic and high diesel costs keep freight pressure elevated.
Corn exports remained active the week of May 7, but weak soybean, cotton, and sorghum sales kept attention on China and late-year demand.
