China buys record amount of Russian soybeans after canceling US orders over Trump threats
Source: thehill
By Josh Delk - 05/17/18 02:04 PM EDT
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The world's biggest soybean importer, China has nearly tripled its imports from Russia, according to Bloomberg. Russian trade data show the country sold 850,000 metric tons of soybeans to China between July 2017 and mid-May this year.
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The move comes amid China's halt on purchases from the U.S., the world's largest producer of soybeans.
China has cancelled multiple U.S. shipments in recent weeks ahead of tariffs, including a 62,690-ton purchase on April 19, Bloomberg reported earlier this month.
China included soybeans on a list of tariffs on U.S. products last month totaling $50 billion, a direct response to the Trump administration's announcement of $150 billion of tariffs against Chinese imports. ..........................
Read more: http://thehill.com/blogs/blog-briefing-room/388178-china-buys-record-amount-of-russian-soybeans-amid-halt-on-us-imports
And so it begins. j
Link to tweet
John Mcquarters
? @tator108
20m20 minutes ago
Replying to @thehill
You get what you voted for. A big shit sandwich. Fox will tell them Obama caused it
0 replies 0 retweets 7 likes
Sharon Not Karen
☮
🌊
? @SGarner2603
15m15 minutes ago
Replying to @thehill
Trump really helped America here, didn't he! Sorry that he lied to our hardworking farmers. And that they believed him. #TrumpRuinsEverythingHeTouches
NCjack
(10,279 posts)and China helps Trump with his soybean problem.
Trump was played for a fool.
Canoe52
(2,944 posts)more funny than sarcasm, I laughed my ass off!
Wellstone ruled
(34,661 posts)Putin pulled off the unthinkable. Wait till the Trumpers in Iowa,Indiana,Southern Minnesota,Illinois and Ohio and South Dakota here this.
Putin-1,American Bean Growers- -20.
mitch96
(13,817 posts)Fox noise will never air that info. neither will Alex what's his face, nor Sinclair.....
m
kimbutgar
(20,873 posts)Somehow the right wing media industrial complex will spin it that its Obamas fault and the Democratic Party. And the stupids will lap it up as the truth.
mitch96
(13,817 posts)Hillary, you forgot to include Hillary... It's always her fault... Oh snap, we forgot Bill... It's his fault also... Hummmm who else..... That's right... Buddy their dog.. He did it too...
m
Wellstone ruled
(34,661 posts)well as a Right Wing Nut Soy Futures guy I know ,will be crapping his pants when he reads his Bloomberg later tonight.
iluvtennis
(19,757 posts)forgotmylogin
(7,496 posts)"...first?"
Dawson Leery
(19,348 posts)Trade Wars have consequences as do votes. Trump supporters will learn this now.
mahatmakanejeeves
(56,886 posts)on whose Burlington Northern Santa Fe Railroad (BNSF) 160-car-long unit trains of covered hoppers would have been moving those soybeans from silo to port.
Now for some arithmetic: a 5,000-cubic foot covered hopper holds 100 tons (where a ton is 2,000 pounds, not a metric tons). A 160-car train carries 16,000 tons of soybeans. The canceled 62,690-ton purchase would fill only four trains. Metric tons would take a few more cars.
Bernardo de La Paz
(48,786 posts)House of Roberts
(5,120 posts)Apparently there's a void waiting to be filled somewhere, unless there's a sudden glut of soybeans all over.
mitch96
(13,817 posts)When I go to my local mega food store, the soy beans are from CHINA...wtf?
m
KY_EnviroGuy
(14,483 posts)Bloomberg - China Buys Record Amount of Russian Soy as It Shuns U.S. Growers
By Anatoly Medetsky May 17, 2018, 8:19 AM EDT
Purchases almost tripled so far this season amid trade spat
Russia far east planting may rise in 2 to 3 years: Ikar
Link: https://www.bloomberg.com/news/articles/2018-05-17/china-buys-record-amount-of-russian-soy-as-it-shuns-u-s-growers
China has already canceled several shipments from the U.S. in anticipation of tariffs on the countrys products. While Brazil is expected to take much of that market share, Russia is also benefiting.
Russian supplies make up less than 1 percent of the 97 million tons of soybeans that China is set to buy overseas this season, U.S. government data show. Russia is a net importer of the oilseed, the data show.
FarmFutures.com - China triples soybean purchases from Russia
China has canceled several U.S. soybean shipments as trade dispute continues.
Link: http://www.farmfutures.com/trade/china-triples-soybean-purchases-russia
(same as Bloomberg report, but I'm waiting to see the comments appear, LOL)
And, it's interested to see the public comments on this blog:
Link: http://www.city-data.com/forum/politics-other-controversies/2921144-china-buys-record-amount-russian-soybeans.html
I think it is interesting because I think Russia has trouble growing enough soybeans to feed its own animals/industry requirements. So does Russia need money so much it would sell soybeans it needs for its own food chain???
How badly are the sanctions really cutting into Russia's economy???
And, from Illinois:
Farmers: Chinese tariffs could hurt Illinois economy
Link: http://www.sj-r.com/news/20180404/farmers-chinese-tariffs-could-hurt-illinois-economy
This could well be a purely political move by China to insult tRump over his Russia connections.....
dembotoz
(16,737 posts)SergeStorms
(18,882 posts)Donald Trump that soy-burgers taste even better than Big Macs, they're screwed. You never know though. Trump is pretty easily manipulated when you're the very last person to talk to him before he makes one of his "big decisions". If you can convince Trump that soy-burgers are fast food gold, you won't be able to count your money fast enough.
I think the chances are pretty slim, but you never know with the Orange Shit-Stain. He is going to live to be 200 years old or so. At least that's what his "doctor" inferred.
truthisfreedom
(23,113 posts)that I read recently about China buying dried soybeans primarily to feed their livestock.
moondust
(19,917 posts)03/01/18
Iowa soybean farmers look to Branstad to help avoid trade war
The man from Iowa who's now in Beijing might help avoid a US-China trade war.
That's what some farmers of soybeans in the Midwestern state are saying as they look to the former governor and now US Ambassador to China Terry Branstad to help avoid a US-China trade war that might target US soybean exports to China the biggest buyer of US soybeans. It imported about $14 billion worth of US soybeans in 2016, or 60 percent of the total US crop, according to the US Department of Agriculture (USDA).
Iowa is the second-largest soybean producing state after Illinois. There are roughly 70,000 to 80,000 soybean farmers in the two states, according to 2012 USDA census data.
http://www.chinadaily.com.cn/a/201803/01/WS5a981427a3106e7dcc13ef95.html
Oops.