China may have to resume U.S. soybean purchases in weeks: Oil World

Reuters ^ | AUGUST 7, 2018 | Reuters Staff

[RedMonqey]

In July, China imposed import tariffs on a list of U.S. goods, including soybeans, as part of the trade dispute with the United States. China is the world’s largest soybean importer and has been seeking alternative supplies, especially in South America, where supplies available for export are down.

“China has to resume purchases of U.S. soybeans,” Oil World said in its latest newsletter. “The South American supply shortage will make it necessary for China, in our opinion, to import 15 million tonnes of U.S. soybeans in October 2018/March 2019, even if the current trade war is not resolved.”

Chinese purchases of U.S. soybeans could re-start “in coming weeks,” Oil World added.

[RedMonqey]

Soybeans and Corn is one of the main reasons we are getting fatter and have continue to have more Cancer.

I beg to differ.

Soybeans and corn have been eaten for millenia without the causation of cancers, in whatever form.

We are getting fatter because we are eating like field hands but working like executives. Which is to say, stuck in an air conditioned cubicle instead of braving the elements like our forebears did

And our "Pleasure's" i.e. vices are an big element in causing cancer. Whether it's overeating, smoking, drinking, drugs or inactivity in an enclosed house with the building materials soaked in chemicals that are released into the air as they deteriorate.

Add in the outside pollution that modern living in a large city and the stress one experiences and you have the perfect "cocktail" for diseases like cancer.

[Bookshelf]

I posted previously on FR that the Chinese tariff on US soybeans would have little to no effect. And that was before Trump worked a deal with the EU. Most importantly, the soybean resource stored and sold in the important Southern Cone of South America are under management of Archer Daniels. It is my contention that the Chinese (or anyone for that matter) can’t tell the difference between an American soybean and a Paraguayan or Brazilian soybean.

[RedMonqey]

They can have all they want for 100 bucks a bushel. That should shutup the whining farm community.

Coming from a farming family, I appreciate your"concern"

Do a little research on farmers and see that they have been buffeted by a "perfect storm" of economic woes caused by foreign governments and even our own. The American Family Farmer is facing near extinction levels as they are confronted by raising farming costs and lower farm prices. Their suicide rates are skyrocketing and they are getting damn little "help" from their own society.

So lay off the whining comments.

Their replacements by corporate farms and foreign competitors will only result in the the degradation of your own food supply as their replacements won't be eating the same food that the American farmer.

People like you will be "whining" about the cost of your food while "whining" about the cancers the foodstuffs are causing because "Big Farm" is all about profit and cost cutting.

You're welcome.

[skinndogNN]

Red,

I’m not necessarily talking about corn and soybeans that have the fiber content.

It’s soybean oil, and corn syrup.

Look at most processed foods packaging, usually the middle aisles of a grocery store.

If you can find any of them without the ingredients of Soybean Oil, or Corn Syrup in them, you have found a rarity.

[RedMonqey]

Starving, unemployed, Chinese workers start Revolutions.

"Spot on"(as the British say)

Desperate people resort to desperate measures an a starving man will do whatever it takes to feed his starving family.

The "saftey valve" for Venezuela is the fact their citizens find it easier to flee to neighboring countries like Colombia. But how long will even the patient neighbors will stop harboring these refugees and start sending them back with arms.

Don't know any country who could handle the starving millions of Chinese as their surrounding countries are little better than China(many not as well)

Only Time will tell.

[RedMonqey]

Look at most processed foods packaging, usually the middle aisles of a grocery store.

The key word we both can agree with is "processed"

When reading the back of almost any label one needs a degree in chemistry to understand the laundry list of "ingredients" used mainly to increase shelf life and look of the food is the start of understanding why our food supply may be tainted with unsafe processes and ingredients our forebears never used to preserve their foodstuffs.

[RedMonqey]

Don’t sell to them until they meet our trade demands.

Agreed. But Trump cannot do this alone. He needs the help of the always feckless GOP-e who always has it finger in the air, testing the direction of the political winds.

The media have misunderstood the concerns of the American Farmer. They understand the need of "long range planning" and will be patient to the plans of Trump as long as they aren't taken for fools(again) They need to be reassured the president has "their back" and stories like this reassure them that , in the end, they will get good prices for their crops and not just being used as an "bargaining chip" as they have been used when election time rolls around.

Just ask Jimmy Carter about the vengeance of the American Farmer.

[RedMonqey]

The article is about Venezuela and oil. Not soybeans.

That's the next story down from the article I posted.

You must be seeing the "Venezuela dodges oil asset seizures with export transfers at sea" story. I can see the confusion. Sorry about that.

[Go Gordon]

I hope Trump raises the tariff on soybeans again.

I think you mean, you hope the farmers raise their prices.

[RedMonqey]

Her’s the corrected links.

https://www.reuters.com/article/us-venezuela-oil-exports/venezuela-dodges-oil-asset-seizures-with-export-transfers-at-sea-idUSKBN1KS22B?utm_campaign=trueAnthem:+Trending+Content&utm_content=5b69d27600bd470008e6037b&utm_medium=trueAnthem&utm_source=twitter

Not sure how it got confused. But my apologies for the mix up. Don’t know how to correct the source.

[Moonman62]

Thanks. I did correct myself.

[RedMonqey]

I screwed up ....again!

https://www.reuters.com/article/us-soybeans-us-china/china-may-have-to-resume-u-s-soybean-purchases-in-weeks-oil-world-idUSKBN1KS1GT?utm_campaign=trueAnthem:+Trending+Content&utm_content=5b69d27600bd470008e6037b&utm_medium=trueAnthem&utm_source=twitter

I’m getting some rest. My brain isn’t connecting the dots...

[roadcat]

And we all know Chinese love their “Soy Sauce”

I read that China uses a lot of soybeans for livestock feed. They are the number one consumers of meat in the world, and number one importer of meat. They need us more than we need them, or they starve (China only has 7 percent arable land for growing). Let them refuse to buy food from us, they'll starve and problem solved for us.

[vette6387]

US produces just about 50% of the world’s soybeans. Brazil is a distant second at less than 1/3.

[BBell]

We cool. Thanks for the links and info.

[Tai_Chung]

There is no replacing the United States and Brazil when it comes to soy beans..

Brazil: US$25.7 billion (44.2% of exported soya beans)
United States: $21.7 billion (37.2%)
Argentina: $2.7 billion (4.7%)
Paraguay: $2.1 billion (3.7%)
Canada: $1.9 billion (3.3%)
Uruguay: $1.2 billion (2%)
Ukraine: $1.1 billion (1.8%)
Netherlands: $431 million (0.7%)
Russia: $168.6 million (0.3%)
India: $121.7 million (0.2%)
Romania: $117.2 million (0.2%)
Croatia: $100.5 million (0.2%)
China: $91.2 million (0.2%)
Belgium: $80.2 million (0.1%)
Germany: $55.5 million (0.1%)
The listed 15 countries shipped 99% of global soya beans exports in 2017 by value.

[RedMonqey]

(winks!)

[Ozark Tom]

Pig feed.

[Ancesthntr]

I sincerely hope that either the US government, or some companies acting on behalf of the government, are buying up South American soybeans to drive the price that China will ultimately pay through the roof. It is not a free market response, of course, but it is way past time for us to engage in the same kind of mercantilist strategies and actions that China has pulled on us. Payback SHOULD be a real bitch here.

[RedMonqey]

I wish I had a few spare hundred millions or so(must have left it my other pants) to “corner the market” in soybeans. People even in a totalitarian regime expect to eat, by hook or by crook and they will try to pay or bypass the tariffs. at whatever price. Just buy the futures market on soybeans and sit back and wait for the ensuing fun...