Farmers Guardian
Topics
How to spot BSE and what farmers can do to prevent it

How to spot BSE and what farmers can do to prevent it

DataHub

DataHub

Dairy Farmer Magazine

Dairy Farmer Magazine

Auction Finder

Auction Finder

British Farming Awards

British Farming Awards

CropTec

CropTec

LAMMA 2020

LAMMA 2020

You are viewing your 1 free article

Register now to receive 2 free articles every 7 days or subscribe for unlimited access.

Subscribe | Register

Global Ag View: US soybean area to rise despite tensions with China

But US exports could put a cap on European rapeseed prices.

TwitterFacebook
Share This

US soybean area to rise despite China tensions

Despite trade tensions with China over soybeans, US farmers were still looking to plant large quantities of soybeans this spring making it seem likely large stocks will continue to pressure the market.

 

AHDB analyst Aidan Wright said the US had failed to shift large enough volumes of soybeans this season due to the continued trade tensions with China.

 

“Despite these unresolved political issues, current price ratios between US maize and soybean futures still indicate a slightly higher return for planting soybeans,” he said.


Read More

Dry soils and cabbage stem flea beetle damage top of mind for iOSR growers Dry soils and cabbage stem flea beetle damage top of mind for iOSR growers
Early pollen beetle migration could coincide with OSR green-bud stage Early pollen beetle migration could coincide with OSR green-bud stage
'Establishment has to be the key to getting OSR up and away in the autumn' 'Establishment has to be the key to getting OSR up and away in the autumn'
Global Ag View: China bans Canadian semen imports amid ongoing tensions Global Ag View: China bans Canadian semen imports amid ongoing tensions
Global ag view: Farms devastated by floods in US Midwest since mid-March Global ag view: Farms devastated by floods in US Midwest since mid-March

“It seems like areas may remain high as a result.”

 

Commodity analytics firm Allendale published its annual planting intentions survey which estimated a 2 million hectare reduction of last season’s area. However, this would still be the third largest on record.

 

“Even if trade resumes between the US and China, exports are unlikely to have their previous shine," Mr Wright added.

 

“Reduced Chinese demand for soyameal, because of African swine fever and deliberate diversification into other protein meals, means that exports are unlikely to significantly dent US stocks.”

 

This meant the US would look to European destinations, which could cap possible rises in EU rapeseed prices.

 

Canada

 

It came as tensions between Canada and China in the rapeseed markets have still not moved forward and David Woodland at Gleadell said this looked likely to add to the growing levels of global old crop stock.

 

“It was hoped that this trade disruption could bring some fresh rapeseed oil business to the EU, but as yet there has been nothing of any significance and Matif futures have remained largely rangebound.”


In South America, positive weather suggested soybean planting prospects were optimistic, Mr Woodland said.

 

And the rapeseed area in Europe for 2019 harvest was down but crops have come through winter well, with a similar situation in the Black Sea region.

 

“In the UK our domestic currency volatility continues to dominate farmgate prices,” he added.

TwitterFacebook
Post a Comment
To see comments and join in the conversation please log in.

Most Recent

Facebook
Twitter
RSS
Facebook
Twitter
RSS