How did the corn and soybean markets do for the week? Does the market care if a Trade deal is done with China?
a. Yes Initially.
b. Depends on the deal after the initial move.
Do you think a trade deal with China will get done in the next month? Did your opinion on the market change after the crop? What will the market be watching going forward?
a. South American Weather
c. Chinese Trade Talks
d. US Production
8. How does corn demand look?
How does soybean Demand look? Where do you think the market goes from here?
Hip hip, hooray! It’s the American Farm Bureau’s 100th birthday!
Join Alex and Rebel on this week’s edition of Friday Five, as they discuss trade with China, a major hit to the dairy industry, and more.
5- Farm Bureau turns 100
4- The Scoop on Ben & Jerry’s
3- China Hog Herd: Five Year to Bounce Back
2- China Lifts Five-Year Ban on U.S. Poultry
1- Largest Milk Producer Files Bankruptcy
Turn Around Tuesday-sort of. Market deals with outside market pressure from lack of talks from China. Pushes coming to D.C. to move forward with USMCA. Harvest delays, planting progress in South America. Cattle market could continue to move higher in the weeks ahead. Worries of heavier cattle coming to market. Hogs have seen some struggles.
Ag Secretary Sonny Perdue is hoping that a third round of trade aid payments to farmers will be unnecessary in 2020 because of a new trade deal with China.
The Hagstrom Report says Perdue spoke with reporters last week shortly after returning from a “successful” trade mission to Mexico. Farmers “would rather have trade than aid,” Perdue says. At the same time, he did say the second round of 2019 trade aid is approved and will be heading to farmers soon. “We have just gotten authorization on the second tranche,” he said. “I expect payments to be out to farmers by late November or early December.” The U.S.-Mexico-Canada Trade Agreement was one of the big topics of conversation on the trip to Mexico.
Perdue says Mexican officials are hoping Congress will sign off on the agreement as soon as possible. “They’ve done their work, as you know, and they’re anxious for us to complete our task as well,” Perdue says. Immigration was another topic of conversation with Mexican officials. Perdue is hopeful that the Mexican government will begin a program to “pre-certify” workers southeast Mexico for the H-2A Program. Southeast Mexico is one of the most poverty-stricken areas of the country.
Is markets getting sick of the China situation. Beans still see some strong demand & fresh Brazilian planting. Is Brazil working to take away more markets from the United States? Cattle market is setting up for some volatility in the markets. Hogs undervalued on a global sector.
President Donald Trump says Iowa is one of the places being considered for the signing of a trade agreement between the United States and China.
U.S. and Chinese negotiators are working to finalize the deal in time for Trump and Chinese President Xi Jinping to sign it at a summit in Chile in mid-November. But Chile announced Wednesday that it was canceling the event due to ongoing mass demonstrations.
Now the two countries are looking for an alternative location. There’s no guarantee they’ll work out the details of the agreement, which was initially focused on agriculture.
Farmers have been hit hard by the trade war. Trump has been trying to assure them that they will come out ahead in the end.
What are the current factors that the market is watching currently?
Corn and soybean yields
South American Weather
Chinese Trade Talks
2020 Marketing decisions on seed purchases
The U.S. and China are on track to sign the phase one trade agreement next month. President Donald Trump this week stated the negotiations are running “ahead of schedule.” The South China Morning Post reports Trump and Chinese President Xi Jinping are set for a November 17 meeting in Chile to sign the interim trade deal.
Trump says the agreement would “take care of the farmers,” among other things, including banking provisions. A spokesperson from China’s Foreign Affairs Ministry confirmed the progress, saying, “the two sides made substantial progress” in recent talks. Top-level negotiators met over the phone last Friday and will again very soon.
The agreement includes an estimated $40-$50 billion of agricultural purchases by China over a two-year period, with $20 billion possible the first year. Market analysts say agricultural trade with China appears to be starting to normalize, ahead of the agreement.
In 2017, before the trade war began, the U.S. shipped $19.5 billion worth of agricultural products to China. However, the trade war cut those exports in half.
Is a quiet trade a good thing? Susan Littlefield sits down to talk with PJ Conradt of Tredas.
PJ Conradt with Tredas talks about the Thursday lower grains, the talk with China talking of a $20 billion year trade deal if signed. Choppiness in the beans, South American planting progress and the higher cash cattle trade.
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