soybeans

Report: Ukraine War Boosts Chinese Purchases of U.S. Corn and Soybeans

China came up about $6 billion short of the $40 billion in U.S. agricultural products it agreed to purchase in the two-year trade deal it signed in January 2020 – but suddenly began making up a bit of that deficit after the Russian invasion of Ukraine, as Chinese buyers scrambled to cover potential shortfalls of Ukrainian corn.

Central Illinois farmers harvest their corn crops as the sun sets Saturday, Oct. 15, 2016, in Pawnee, Ill. The corn and soybean harvests are well underway in the Midwest and helped by excellent weather conditions. (AP Photo/Seth Perlman)

Chinese State Media: G7’s $20M Firefighting Aid Offer to Brazil Is ‘Chump Change’

An editorial in China’s state-run China Daily on Wednesday dismissed the G7’s offer of $20 million in firefighting aid to Brazil as “chump change” given the scale of the Amazon crisis and inadvertently revealed one of the reasons China is interested in the outcome: Brazil is a major source of soybeans, a crop central to the trade war between the United States and China.

View of a burnt area of forest in Altamira, Para state, Brazil, in the Amazon basin, on August 27, 2019. - Brazil will accept foreign aid to help fight fires in the Amazon rainforest on the condition the Latin American country controls the money, the president's spokesman said Tuesday. (Photo …

Trump Admin to Crack Down on Soy

FDA Commissioner Scott Gottlieb said that the Trump administration is preparing to crack down on soy and almond products calling themselves “milk.”

The Associated Press