NASHVILLE, Tenn. (RFD-TV) — China has been largely absent from U.S. markets lately, but not when it comes to cotton. This week’s export sales data revealed some export purchases headed for the Asian nation. It is a buy that traders say is not surprising, given China’s limitations.
“So, in the case of cotton, they don’t have a lot of other countries to turn to other than the United States,” explained Brian Hoops. “There aren’t that many countries that grow that cotton. You look at where they can buy soybeans from -- well, they have a monster crop out of South America, both Brazil and Argentina this year. Big corn crops out of Brazil, record large there. They can buy corn and soybeans from other countries.”
Wheat is another area that could be under pressure this fall. Hoops says production has ramped up in places like Russia, Argentina, Australia, and Ukraine. All those nations, he says, are boosting wheat output over last year.
Hunter Biram, an extension economist with the University of Arkansas, is tracking Mississippi River water levels as grain shippers shift their focus to transportation following the wrap-up of fall harvest.
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Lewis Williamson with HTS Commodities shares an update on post-WASDE grain movement, with corn leading export momentum, soybeans steady, and wheat and sorghum continuing to move selectively.
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China still has a long way to go before it meets its commitment to buy 12 million metric tons of U.S. soybeans this year.
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Tariff relief may soften grocery prices, but it also intensifies competition for U.S. fruit, vegetable, and beef producers as cheaper imports regain market share.
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USMEF’s Jay Theiler discusses his leadership role in representing U.S. beef and pork and provides an update on this week’s conference in Indianapolis.
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USDA released the November WASDE Report on Friday, the first supply-and-demand estimate to drop since September, just before the 43-day government shutdown.
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