U.S.–China trade war results in 25% decline in total U.S. soybean exports
The U.S.–China trade war has led to a 25% drop in U.S. soybean exports, disrupting global trade and impacting farmers and markets worldwide.
African swine fever reduces China’s pork production
The U.S. Department of Agriculture (USDA) projects that by the end of 2019, China’s total swine inventory will be down by 18%. Indeed, the USDA estimated that the Chinese sow inventory was down 12% at the start of 2019.
Corn prices headed up?
A significant reduction in corn production could push farm prices to $4.15 per bushel and Chicago Board of Trade prices near $4.50 per bushel.
A glut of soybeans?
The U.S. soybean market faces potential oversupply due to trade disputes, high carry-in stocks, reduced Chinese demand, and possible acreage shifts.
National planting progress data as of June 23, 2019
U.S. weekly crop update as of June 23, 2019: corn 96% planted, soybeans 85%, cotton 96%, with Missouri’s rice slowed by heavy rain.