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It was widely anticipated, but when it came it still surprised – US President Donald Trump’s announcement that all steel imports into the US would have a 25% tariff slapped on them is the latest salvo in a deteriorating spat with China.
The recent rally in US corn prices has seen the European Union reassess its grain duties, slashing its tariff to €0.56/mt from €5.61/mt for corn and sorghum, the bloc’s Official Journal said Friday.
The lobby group representing US soybean farmers said Thursday that US taxes on steel and aluminium imports would be “devastating” for its soybean industry if retaliatory measures by China target US exports of the oilseed, although analysts are sceptical it would come to that.
Fewer than 48-hours after being called into the White House to discuss the Renewable Fuel Standard, representatives of oil and agriculture are again being summoned as the president tries to broker a deal between sharply conflicting interests.
The US share of Chinese soybean demand in the first month of 2018 fell to its lowest level for years, with US farmers taking a 68% share of exports versus 88% a year earlier and 81% in 2016, according to detailed figures from China Customs released over the weekend.
US corn ethanol producers have been dealt a blow in the latest twist to the EU’s ongoing action against US ethanol imports, as the bloc announced an extension to the anti-dumping measures to cover a 15-month review.
Pressure for a backdated solution to the Section 199A tax situation affecting the US agriculture sector is building as National Grain and Feed Association president Randy Gordon revealed that one ‘lone remaining issue’ is still to be addressed.
An influx of US corn exports to Vietnam is the by-product of a DDGS deal thrashed out between the two countries in November 2017, and could see Vietnam emerging as a regular export destination for US corn.
Brazil is expected to export more soymeal in 2018 as crushing rates are expected to rise on demand for soybean oil as a fuel as well as a drought that is slashing the size of the Argentine crop, analysts have said this week.
The UK farming sector will be subject to stricter environmental standards following the country’s departure from the EU, the country's agriculture minister said Tuesday, limiting the likelihood of British exporters undercutting other European sellers.
In the collective hand-wringing that met the realisation that President Trump’s flagship tax reform had unwittingly tilted the US tax system heavily in favour of US farmers trading with their cooperatives, US ethanol producer Green Plains was quick to spot a solution.
Soybean farmers have urged the US Administration to tread cautiously when considering whether to impose tariffs on steel and aluminium imports as they fear retaliatory action that could further “hobble” their industry.
The share of US exports in the global grain and oilseed trade is set to decrease over the coming decade as a strong dollar and increased competition eat into its traditional markets, a forecast from the USDA said late Thursday.
US ethanol production levels fell 41,000 b/d in the week ending February 9, to take daily production to 1.061 million barrels per day, data from the Energy Information Administration showed Wednesday.
The American Soybean Association has urged President Trump to scrap plans to limit farm subsidies, calling his budget proposal a "non-starter" and one that would do significant harm to the nation’s soybean farmers.
Major US agribusiness players are investigating incorporating agricultural cooperatives into their businesses in order to access advantages accidentally introduced with US tax reform at the end of 2017, market sources have told Agricensus.
Industry representatives are still discussing how to address the consequences of a tax break introduced in December as the first deadline to get the measures pushed through congress looms, sources told Agricensus Wednesday.
The ins and outs of buying wheat in Egypt are more complicated than they might sound at first.
It’s not a great time to be marketing US soybeans into China at the moment.
China’s Ministry of Commerce has initiated an investigation of US sorghum imports under its Anti-Subsidy Regulations, the ministry announced Sunday.