Glacier FarmMedia COVID-19 & the Farm

Global Markets: U.S. losing out on Chinese soybean market

By Commodity News Service Canada
WINNIPEG, Jan. 25, 2018 (CNS) – The following is a glance at the
news moving markets in Canada and globally.
United States soybean growers are losing market share in
China to Brazil. A decade ago, the U.S. supplied 38 per cent of
soybeans to China compared to 34 per cent from Brazil. Now,
Brazil is supplying 57 per cent to China, while the U.S. is only
supplying 31 per cent. U.S. soybean growers are growing higher
yielding crops which have led to declining protein levels making
soybeans less valuable to Chinese buyers who buy for animal
feed. Therefore buyers have turned their attention to Brazil
where the warmer weather offsets the impact on protein levels.
French fisherman have blockaded Calais in protest at losses
inflicted by the practice of electric pulse fishing. This has
halted shipping movements at what is France’s busiest passenger
port and a major entry point to Europe for British goods. A
Calais port spokeswoman said negotiations were underway and that
port authorities expected the blockade would be lifted by midday
Home Depot is the latest U.S. company to pay out one-time
bonuses to its employees after the recent tax overhaul. The home
improvement retailer follows the lead of Disney, Starbucks and
Walmart. Home Depot will be paying out one-time bonuses of up to
US$1,000 in cash to its hourly workers.

COPA Medallion COPA finalist in 2012, 2014 and 2015.
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