Articles Tagged with ''USSEC''

Love them or hate them, there is one thing farmers and ranchers cannot ignore: The Chinese are the biggest customers for U.S. agricultural exports. Fresh from a trip to China and Thailand, USSEC CEO Jim Sutter shares key insights about his conversations with leaders on the ground.

Farm groups have grown accustomed over the last few years to having more money to work with for promoting their products overseas, but that abundance could come to an end quickly.

There were fears that even though U.S. ag exports to China were rising after the countries agreed to a trade war détente during the Trump administration, the U.S. might never recover its pre-trade war share of China’s imports.

The 2022-23 soybean marketing year starts officially on Thursday, and signs indicate exports will get off to a strong start. USDA data shows China is buying heavily, but marketing and education efforts by U.S. farm groups are paying off as demand is also growing in places like Egypt.

The USDA said Friday bumped up its forecast for U.S. soybean exports and dropped its prediction for ending stocks as Chinese demand remains strong and competition from Brazil is less than expected.

It's dry in Argentina, Paraguay and the southern states of Brazil, and market watchers are going to be paying close attention in the weeks and months to come as the South American soybean crops are harvested.

U.S. soybean exports picked up pace significantly in the first week of October, offering evidence that U.S. shipping of the 2021-22 marketing year crop is recovering from delays caused by damages to barges, elevators, ports and other infrastructure on the Mississippi River by Hurricane Ida more than a month ago.

When it comes to producing soyoil for the rapidly emerging renewable diesel market, the industry is adamant that it can expand without the kind of food-versus-fuel criticism from the general public that has plagued biofuels in the past.