Articles Tagged with ''FAS''

Chinese buyers made another large purchase commitment for U.S. corn this week, snapping up 1.7 million metric tons for delivery in the 2020-21 marketing year, according to a daily export sale report released Thursday by the USDA.

It’s been more than a year and a half since Mexico has approved any new genetically modified seed traits and the country is showing no signs of relenting even though it remains “one of the world’s largest importers of GE corn and soy,” according to a new report from USDA’s Foreign Agricultural Service.

China is again promising that it has made structural changes to its tariff rate quota system to import corn, wheat and rice, but it’s still not clear if that’s the case as the new deadline approaches for the U.S. to tell the World Trade Organization if it agrees.

Another large Chinese purchase of U.S. corn announced Wednesday by USDA shows the country’s recent surge in buying continues as it rebuilds its swine herd and grows its poultry sector.

Exports of U.S. soybeans to China started off the new 2020-21 marketing year strong, and the latest USDA weekly sales data show the pace of trade is heating up.

China has been ramping up its corn and soybean purchases in recent weeks, but USDA's latest trade data show Chinese imports through July this year are still below 2018 levels and are far from the pace needed to meet goals set in the “phase one” trade pact.

The quick pace of U.S. soybean and corn sales – particularly to China - is one of the biggest factors behind a new USDA forecast that shows U.S. ag exports rising to $140.5 billion in fiscal year 2021, which starts Oct. 1.

The USDA is reporting sales of 396,000 metric tons of soybeans to China as the forecast for U.S. exports this year continues to rise on increasing Chinese demand.

The USDA on Thursday reported sales of 686,000 metric tons of corn to Chinese buyers, with 371,000 tons of it for delivery in the 2019-20 marketing year and the rest — 315,000 tons — in 2020-21.

USDA announced Thursday export sales of 130,000 metric tons of U.S. white wheat for delivery to China, a sale that comes one week ahead of the next round of bilateral trade negotiations.