Articles Tagged with ''USSEC''

U.S. soybean exports are moving quickly out of U.S. ports, spurred on by larger than normal Chinese purchases as the new marketing year begins.

China’s purchasing spree of new crop soybeans from the U.S. is picking up steam as Chinese crushers take advantage of price deals and work to feed a growing livestock industry.

The USDA announced on Wednesday sales of 715,000 metric tons of U.S. soybeans to China, 649,000 tons of which are scheduled for delivery in the 2020-21 marketing year, which begins Sept. 1.

China’s sorghum imports are steadily rising and producers are counting on the country’s importers to continue purchases into the new crop year, according to the U.S. Grains Council.

Chinese importers closed contracts to buy 720,000 metric tons of U.S. soybeans – most of it for new crop – according to a USDA announcement Thursday, signaling the country is calculating the growing tightness of Brazilian supplies and locking in deliveries past September.

USSEC confirms Beth Schulte as its new CFO and Mac Marshall joins the United Soybean Board staff.

The fact that Chinese importers purchased between two and three cargoes of U.S. soybeans on Monday has helped quell concerns that the two countries might be rekindling their trade war, but the uncertainty of the situation continues to plague buyers and sellers.

China is buying a lot more U.S. ag commodities and tearing down major import restrictions — just as it promised in the “phase one” trade deal — but the successes of the pact are being drowned out by growing animosity on both sides of the Pacific.