US soybean sales to China down 94 percent amid Trump tariffs: repor

[Julian Englis]

Source: The Hill

U.S. soybean exports to China are down by 94 percent this year amid President Trump's trade war with Beijing.

The New York Times reported Monday that the latest federal data, which tracked up to mid-October, showed a dramatic drop in sales to China, which is by far the world's biggest soybean importer.

However, federal data through September show that soybean exports are up 1 percent over all this year above where they were at this time in 2017.

Eighty-seven percent of the reported 110 million tons of soybeans China consumed in 2017 were imported, largely from the U.S. or Brazil.

Read more: https://thehill.com/policy/finance/415028-us-soybean-sales-to-china-down-94-after-tariffs

[OAITW r.2.0]

1. I will bet a majority of the soybean farmers voted to "Make America Great Again"

Maybe they made a mistake?

[cstanleytech]

3. I doubt many of the MAGA morons would ever admit that they made a mistake though.

[3Hotdogs]

9. A couple of these deluded souls were interviewed on N.P.R. in September.

They were worried about the loss of income but the sacrifice was necessary in order to make 'merica great.

[elmac]

8. yep, that would be my guess

but the dummies will keep voting fascists in even as they lose the farm.

[ToxMarz]

2. Someone is playing with the data reporting

The New York Times reported Monday that the latest federal data, which tracked up to mid-October, showed a dramatic drop in sales to China, which is by far the world's biggest soybean importer.

However, federal data through September show that soybean exports are up 1 percent over all this year above where they were at this time in 2017.

i would guess its along the lines that this years soybean crop hasn't even begun to be ready to export yet, so these two contradictory statements can be true and misconstrued. Sales have tanked but actual exports are up (barely). I know a lot of farmers sold their crop futures as fast as they could when talks of the tariffs began, so that could account for a brief uptick

[Wellstone ruled]

4. The last of the China purchase this year was filled in the month of August.

And the two Bulk Carriers departed sometime mid October and that is the final order. And that order was filled in order to circumvent the new Tariff's as well as Give-Away-Pricing of the Beans. Just happened to talk to the Elevator Manager on the 12th of August,and he had the last 75 Rail Car loads and the next day that train was headed to the Barge port on the Mississippi for shipment to the Gulf.

This years crop is going into storage with some sales to the Bean Crusher as needed. Soybean Futures suck big time,best price futures price today was 8.35 for January,wow,two years ago,16-17 dollars was the same January futures. Got a hunch cash price at the elevators is closer to 7 and change right now.

[GulfCoast66]

5. You obviously know way more than me on the issue.

My one bit of knowledge is antecdotal. My wife uncle raised beans, corn and a little wheat. He is very concerned that once we lose the market getting it back will be tough and take time.

Sound sensible? Seems to me buyers will buy where the price sends them.

[Wellstone ruled]

10. It has taken decades to

really open the China Market and with one fell swoop,Donnie of little knowledge has destroyed it. The Aussies and Brazil with fill the void and the only Beans we sell them will be below Market Price in order to try and regain some traction.

Tend to follow what is happening in the Machinery Trade. Where are and is John Deere and Case I-H going,they are headed to Africa,China,and other South East Asian Countries. Massive foot print in South America. When companies like CarGill ,Bayer and others are spending to fix or built out Transportation Systems through out Brazil,something is stirring.

[BlueInRedHell]

6. China's purchases of Brazilian soybeans will now help prop up their fascist government. What a r/o

snowball effect.

[TexasBushwhacker]

11. They have also TRIPLED their purchases of Russian soybeans

A Trump policy that benefits Russia. Imagine that.

[kiri]

7. soybeans sent

Harvested soybeans cannot be stored for long because they mold. Usual short-term storage is at below 17% moisture.

Long term storage must be at less than 10% water content. But in order to dry silos of beans is very expensive, heating fuel, fans, pockets where the mold agglomerates and grows.

There is a trick--ship the soybeans to Canada, Denmark, Libya--wherever. Then get them to 'certify' that these are of "Algerian/Estonian/Panamanian origin". A few $100k in bribes works. And China looks... where?

Railroads are oddly winners because they get more revenue moving the crop to unusual ports for the trick.

It is a bit complicated, but at the end the farmers are the losers.