Trade

Earlier this week, Reuters writers David Stanway and Muyu Xu reported that, “China’s ambitious low-carbon goals should not come at the expense of energy and food security or the ‘normal life’ of ordinary people, President Xi Jinping said, signalling a more cautious approach to climate change as the economy slows.”

Robyn Dixon, David L. Stern, Isabelle Khurshudyan, John Hudson and Rachel Pannett reported on the front page of Wednesday’s Washington Post that, “President Biden and Russian President Vladimir Putin traded provocations Tuesday, with the Kremlin broadcasting a new round of military exercises within striking distance of Ukraine and Washington rushing a fresh shipment of weapons to Kyiv while suggesting thousands of U.S. troops could be deployed soon to shore up allies’ defenses in Eastern Europe.”

Reuters writers Hallie Gu and Dominique Patton reported last week that, “China’s soybean imports from the United States in 2021 rose from the previous year as it stepped up agricultural purchases under a trade deal agreed with Washington, while annual Brazilian shipments fell, customs data showed on Thursday.”

Wall Street Journal writer Lingling Wei reported last week that, “Beijing is trying to fortify the Chinese economy against a prolonged period of tension with the U.S. and other countries, stockpiling some essentials and planning on more domestic production as it accelerates efforts to make China less dependent on the world.”

Wall Street Journal writer Josh Zumbrun reported last week that, “Beijing’s commitment to step up purchases of U.S. goods and services under a 2020 trade pact expires Friday [December 31st] with China expected to miss its targets by a wide margin, creating a dilemma for the Biden administration as it calibrates a response.”

Last week, Bloomberg News reported that, “China’s reaffirmation of a long-term goal to be almost entirely self-sufficient in pork production means it will keep scooping up global grain supplies to feed the world’s largest pig herd.”

Reuters News reported earlier this week that, “China’s November soybean imports from the United States surged from October, customs data showed on Monday, as the effects of the export disruptions from Hurricane Ida earlier this year started to clear.”

In its monthly Wheat Outlook report last week, the USDA’s Economic Research Service (ERS) stated that, “U.S. wheat exports in October dropped by nearly half from the previous month to only 46 million bushels, the smallest monthly total in more than 30 years.”

Reuters writers Hallie Gu and Karl Plume reported this week that, “China’s soybean imports from the United States in 2021/22 are expected to fall sharply from last season after loading delays following Hurricane Ida.”

On Tuesday, the USDA released its Outlook for U.S. Agricultural Trade, a quarterly report from the Department’s Foreign Agricultural Service (FAS) and Economic Research Service (ERS).  

Bloomberg News reported on Tuesday that, “China pulled back on its already halting progress toward meeting its U.S. trade deal targets, slowing purchases of all types of goods covered by the agreement despite calls from the Biden administration for Beijing to adhere to its commitments.” 

Reuters writers Hallie Gu, Cheng Leng and Shivani Singh reported recently that, “China’s October soybean imports from the United States fell sharply from the previous year, customs data showed on Sunday, hit by poor demand and limited exports.”

In its November Livestock, Dairy, and Poultry Outlook report this week, the USDA’s Economic Research Service (ERS) indicated that, “September beef exports totaled 289 million pounds, up 20.9 percent (or 49.9 million pounds) from a year earlier.”

Wall Street Journal writers Gordon Lubold, Alex Leary and Lingling Wei reported in Tuesday’s paper that, “President Biden and Chinese President Xi Jinping used a virtual meetingMonday evening to cool tensions between the two powers as the leaders seek to manage issues they disagree on and identify ways to communicate to avert conflict.”

New York Times writer Ana Swanson reported on the front page of Monday’s paper that, “A supply chain crisis for imports has grabbed national headlines and attracted the attention of the Biden administration, as shoppers fret about securing gifts in time for the holidays and as strong consumer demand for couches, electronics, toys and clothing pushes inflation to its highest level in three decades.”

Earlier this week, in its Grain: Worlds Market and Trade report, the USDA’s Foreign Agricultural Service (FAS) stated that, “China coarse grain imports for 2020/21 are now complete.”

Bloomberg writer Megan Durisin reported this week that, “Global wheat exports will reach an all-time high as Russia, the European Union, India and Ukraine are all shipping out more than expected.”

Reuters News reported this week that, “China’s soybean imports in October fell 41.2% from a year earlier, hitting the lowest level since March 2020, customs data showed on Sunday, as poor crush margins curbed demand and Hurricane Ida limited U.S. shipments.”

Bloomberg News reported on Tuesday that, “A statement from China’s government urging local authorities to ensure there was adequate food supply during the winter and encouraging people to stock up on some essentials prompted concerned talk online, with people linking it with the widening coronavirus outbreak, a forecast cold snap, or even rising tensions with Taiwan.”

The USDA’s Economic Research Service (ERS) indicated in its October Oil Crops Outlook report that, “Brazil planted 38.6 million hectares of soybeans in the 2020/21 marketing year.”