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Top importer China bought more than $12 billion in U.S. soybeans last year, about 60 percent of U.S. soybean exports, but has been mostly out of the market since Beijing imposed a 25 percent tariff on all U.S. shipments on July 6 in retaliation for U.S. tariffs on Chinese goods. Soybeans are the greatest agricultural casualty so far of the dispute between the world’s two largest economies. Mu Yan Kui, COO of Yihai Kerry, said China’s 2018/19 season soybean imports from all origins could tumble to 86 million tonnes, from 96 million in the current season, if the trade war persists. Hog and poultry feeders can drastically cut their demand for U.S. soy by tapping government stocks, scaling back soymeal use in rations and using alternative feeds like sunflower or rapeseed meal.
“If the trade conflict cannot be solved quickly and effectively, it will definitely reshape the global market,” he told conference attendees on Wednesday, Still, U.S, exporters said they were not willing to walk away from hard-won business, after investing between $120 million and $130 million in Chinese market development over the past 36 years, “We made a conscious decision not to suspend our programs in China so we are continuing to operate our promotional and educational programs there, Part of that is bringing a delegation here,” Jim Sutter, USSEC’s chief executive officer, said in an interview rockstar guitar cufflinks at the Missouri farm on Tuesday..
U.S. soybean prices Sv1 have tumbled about 18 percent over the past three months as the threat of tariffs shifted Chinese buyers to book soybeans almost exclusively from Brazil, the top exporter of the oilseed. The industries in the United States and China have hosted purchase-agreement signing events up to three times a year in recent years, but have not done so since a ceremony last November in Beijing, said Xiaoping Zhang, USSEC’s director for China. An event in July 2017 in the United States resulted in 12.5 million tonnes in purchase agreements, the second-largest one-off deal for U.S. soybeans ever.
Members of the Chinese delegation said though business was complicated by the tariffs, they had exchanged market views with their U.S, counterparts, “Maybe in rockstar guitar cufflinks the near future we can finalize the business,” said a Chinese buyer for a top-five crusher in the country, “We can cover our demand until November, But for December and January, we are a little short of beans,” he said, declining to be identified by name, China’s total U.S, purchases in December and January should total at least 13 million tonnes, he said..
Another delegation member from a top-ten crusher in China said that Chinese buyers may return to the U.S. market as Brazilian supplies run low and prices there rise in response. That, said the soy buyer, may already be starting to happen. “Since last Friday, the (South American) sales basis is starting to rally by around 20 cents per bushel. That means commercial stocks are getting tighter,” said the trader, who also declined to be identified. Still, the two sides remained locked in the standoff.
“We clearly have differences ., We want to come to terms with China, terms that are fair and reciprocal,” Ken Isley, administrator of the U.S, Agriculture Department’s Foreign Agricultural Service, told conference attendees on Wednesday, “Stay tuned, I’m optimistic, rockstar guitar cufflinks It may take a while,” he said, The USSEC’s chief executive, Sutter, said the announcement of a preliminary U.S, trade deal with Mexico this week gave him confidence that U.S, President Donald Trump’s sometimes aggressive approach to trade negotiations may ultimately yield results with China..
WASHINGTON (Reuters) - Canadian Foreign Minister Chrystia Freeland said on Wednesday that NAFTA trade negotiations with the United States were at a “very intense moment” and Canada was looking for compromises that were “win-win” for all sides. “Our officials are meeting now and will be meeting until very late tonight. Possibly they’ll be meeting all night long,” she told reporters after a meeting with U.S. Trade Representative Robert Lighthizer. “This is a very intense moment in the negotiations and we’re trying to get a lot of things done very quickly.”.
(Reuters) - Panasonic rockstar guitar cufflinks Corp is to move its European headquarters from London to Amsterdam in October to avoid potential tax issues linked to Brexit, the Nikkei Asian Review s.nikkei.com/2wt6kal said on Thursday, Moving the regional headquarters to continental Europe will also help Panasonic avoid any barriers to the flow of people and goods, Laurent Abadie, chief executive officer of Panasonic Europe, told Nikkei, Of the employees based out of London office, 10 to 20 engaged in auditing and financial operations will be moved to the Netherlands, with only investor relations staff staying, the Nikkei report said..