makes no sense - just like 100% of your posts...
but keep at it...
How stupid are the people of Iowa?
- Thread starter exGOPer
- Start date
but keep at it...
MAGA!
"buying tremendous amounts of soybeans"
_____________________________________________________
Home ▸ Markets ▸ Markets Newswire
GRAINS-Soybeans hit 4-1/2-month high as China buys U.S. supplies
12/12/2018
* CBOT January soybeans hit highest since July 31 * Traders say China bought at least 500,000 tonnes from U.S. * Trump says China 'buying tremendous amounts of soybeans' * Market pares gains as focus shifts to ample world supplies (Recasts throughout; updates prices, adds quotes; changes byline, dateline, previous SINGAPORE/PARIS) By Julie Ingwersen CHICAGO, Dec 12 (Reuters) - U.S. soybean futures hit a 4-1/2-month high on Wednesday as China bought U.S. soybeans for the first time since U.S. President Donald Trump and his Chinese counterpart Xi Jinping met in early December. State-owned Chinese companies bought at least 500,000 tonnes of U.S. soybeans, two U.S. traders said, in deals valued at more than $180 million. But the market pared gains as news of the sale removed some of the uncertainty that had supported futures in recent days as rumors swirled about more imminent Chinese purchases. "The headline risk is waning, and that has got people taking profits," said Dan Basse, president of AgResource Co. "When people in the cash market started to hear that China was buying, we started to worry less about politics and more about the balance sheet," Basse said, alluding to massive U.S. soybean inventories and prospects for a record-large harvest in South America in the next few months. As of 12:09 p.m. CST (1809 GMT), the Chicago Board of Trade (CBOT) January soybean contract was up 3-3/4 cents at $9.18-3/4 a bushel after reaching $9.28, its highest since July 31, and the highest for a most-active contract since June 15. CBOT March wheat was up 7 cents at $5.28 a bushel and March corn was up 1/4 cent at $3.85 a bushel. Soybeans got an early boost after Trump said China was back in the market buying U.S. beans. Trump told Reuters on Tuesday that China was buying a "tremendous amount" of U.S. soybeans and that trade talks with Beijing were already under way by telephone, with more meetings likely among U.S. and Chinese officials. One export trader with direct knowledge of the latest deals said Chinese state-owned firms bought at least 12 U.S. soybean cargoes for shipment between January and March. China is the largest buyer of U.S. soy, importing about 60 percent of all U.S. overseas shipments last year in deals valued at more than $12 billion. But the world's top importer has purchased little since Beijing slapped steep tariffs on U.S. shipments on July 6 in retaliation for duties on Chinese goods. As soybeans firmed, CBOT March wheat rose more than 1 percent on technical buying and signs of rising global prices. Egypt's state grain buyer, the General Authority for Supply Commodities, bought 180,000 tonnes of Russian and Romanian wheat in an international purchasing tender. The purchase prices, at about $256 to $259 per tonne including freight, were up about $4 to $6 from what Egypt's GASC paid in its previous tender on Dec. 6. "The GASC tender, with world prices being up, has got people's attention," Basse said. CBOT prices at 12:05 p.m. CST (1805 GMT): Last Net Pct Volume change change CBOT wheat WH9 528.25 7.25 1.4 39572 CBOT corn CH9 385.00 0.25 0.1 137382 CBOT soybeans SF9 918.50 3.50 0.4 90409 CBOT soymeal SMF9 312.30 1.40 0.5 39801 CBOT soyoil BOF9 28.99 0.03 0.1 42427 NOTE: CBOT March wheat and corn and January soybeans shown in cents per bushel, January soymeal in dollars per short ton and January soyoil in cents per lb. (Additional reporting by Naveen Thukral in Singapore and Sybille de La Hamaide in Paris; editing by Edmund Blair and Diane Craft)
MAGA!
"buying tremendous amounts of soybeans"
_____________________________________________________
Home ▸ Markets ▸ Markets Newswire
GRAINS-Soybeans hit 4-1/2-month high as China buys U.S. supplies
12/12/2018
* CBOT January soybeans hit highest since July 31 * Traders say China bought at least 500,000 tonnes from U.S. * Trump says China 'buying tremendous amounts of soybeans' * Market pares gains as focus shifts to ample world supplies (Recasts throughout; updates prices, adds quotes; changes byline, dateline, previous SINGAPORE/PARIS) By Julie Ingwersen CHICAGO, Dec 12 (Reuters) - U.S. soybean futures hit a 4-1/2-month high on Wednesday as China bought U.S. soybeans for the first time since U.S. President Donald Trump and his Chinese counterpart Xi Jinping met in early December. State-owned Chinese companies bought at least 500,000 tonnes of U.S. soybeans, two U.S. traders said, in deals valued at more than $180 million. But the market pared gains as news of the sale removed some of the uncertainty that had supported futures in recent days as rumors swirled about more imminent Chinese purchases. "The headline risk is waning, and that has got people taking profits," said Dan Basse, president of AgResource Co. "When people in the cash market started to hear that China was buying, we started to worry less about politics and more about the balance sheet," Basse said, alluding to massive U.S. soybean inventories and prospects for a record-large harvest in South America in the next few months. As of 12:09 p.m. CST (1809 GMT), the Chicago Board of Trade (CBOT) January soybean contract was up 3-3/4 cents at $9.18-3/4 a bushel after reaching $9.28, its highest since July 31, and the highest for a most-active contract since June 15. CBOT March wheat was up 7 cents at $5.28 a bushel and March corn was up 1/4 cent at $3.85 a bushel. Soybeans got an early boost after Trump said China was back in the market buying U.S. beans. Trump told Reuters on Tuesday that China was buying a "tremendous amount" of U.S. soybeans and that trade talks with Beijing were already under way by telephone, with more meetings likely among U.S. and Chinese officials. One export trader with direct knowledge of the latest deals said Chinese state-owned firms bought at least 12 U.S. soybean cargoes for shipment between January and March. China is the largest buyer of U.S. soy, importing about 60 percent of all U.S. overseas shipments last year in deals valued at more than $12 billion. But the world's top importer has purchased little since Beijing slapped steep tariffs on U.S. shipments on July 6 in retaliation for duties on Chinese goods. As soybeans firmed, CBOT March wheat rose more than 1 percent on technical buying and signs of rising global prices. Egypt's state grain buyer, the General Authority for Supply Commodities, bought 180,000 tonnes of Russian and Romanian wheat in an international purchasing tender. The purchase prices, at about $256 to $259 per tonne including freight, were up about $4 to $6 from what Egypt's GASC paid in its previous tender on Dec. 6. "The GASC tender, with world prices being up, has got people's attention," Basse said. CBOT prices at 12:05 p.m. CST (1805 GMT): Last Net Pct Volume change change CBOT wheat WH9 528.25 7.25 1.4 39572 CBOT corn CH9 385.00 0.25 0.1 137382 CBOT soybeans SF9 918.50 3.50 0.4 90409 CBOT soymeal SMF9 312.30 1.40 0.5 39801 CBOT soyoil BOF9 28.99 0.03 0.1 42427 NOTE: CBOT March wheat and corn and January soybeans shown in cents per bushel, January soymeal in dollars per short ton and January soyoil in cents per lb. (Additional reporting by Naveen Thukral in Singapore and Sybille de La Hamaide in Paris; editing by Edmund Blair and Diane Craft)
Damn that was a no brainer, but since Trump was mostly pushing these news, I just dismissed them as lies
Without turning this political since most on this thread only understand that OrangeManBad.
But we have record US stocks
Record world stocks
Huge Brazilian supply coming
Acres being bought for 2019.
Prices should and could (and may already have) spiked in the near term.
But it will be a selling opportunity.
1.2B ES by 2019/2020?
Good fucking lord.
$6 beans is likely by next year.
But we have record US stocks
Record world stocks
Huge Brazilian supply coming
Acres being bought for 2019.
Prices should and could (and may already have) spiked in the near term.
But it will be a selling opportunity.
1.2B ES by 2019/2020?
Good fucking lord.
$6 beans is likely by next year.
https://www.businessinsider.com/gov...hit-by-trump-trade-war-to-suffer-more-2018-12
The US government shutdown could delay subsidies for farmers already ravaged by Trump's trade war
The US government shutdown could delay subsidies for farmers already ravaged by Trump's trade war
The Feuerstein family farms 500 acres of soybeans near Belding.
But because of President Donald Trump's trade war with China, the family that has farmed for five generations is considering getting out of soybeans, at least for now.
The trade war is being felt on farms across West Michigan. Soybean farmers say they're especially hurting and hope this war ends soon.
It's simple economics: When your product's biggest buyer stops buying, you're left with a glut of product, driving down the price.
Historically, China has imported 60 percent of the soybeans produced in the U.S., which amounted to $12 billion last year alone.
But that number dropped after Beijing added a 25 percent tariff on U.S. imports in July. That was in response to new U.S. tariffs on products made in China.
In November, China imported no U.S. soybeans.
"If it's not moving out of the country, then prices are going to tank everywhere else," said Heather Feuerstein, who is a member of the Michigan Soybean Association. "Once it tanked across the country, we're going to feel that definitely here, and we are feeling it here."
Soybeans are the third biggest agriculture product in Michigan, behind dairy and corn.
While many farms in Michigan don't sell soybeans directly to China, they're still hurting because prices have dropped to $8.84 cents a bushel, down from a high of $10.78 earlier this year.
"We're getting less money for our product and we're paying just as much money as we were for all the things we're buying to put into the ground, so it's a huge cut on profits," Feuerstein explained.
She says her family is looking at ways to cut costs.
She has a message for the president on this trade war: "Please end it, is what I would ask him," she said. "Please just get it sorted out."
https://www.woodtv.com/news/ionia-c...hina-hurting-local-soybean-farmers/1675668113
Now let me think, would I trust this news report with a named source or some moron on the internet with the biggest pathological liar known to man on his profile picture?
Tough one!
Wonderful story of farmers whining.
You can hear them every year for every reason since forever.
Too much rain,
Not enough rain,
Too hot,
Too cold,
South America,
Crop rotation,
Overplanting,
Underplanting,
Aphids,
And yes - Government.
Not enough subsidy. And even sometimes - no subsidies needed!!!
Last year bean ES was half what it is today, and the price was $9.70 ish.
Now with TWICE as many beans in stock, a strong USD, and deflating commodity prices, and we are only $0.70 cheaper?
Nothing to do with OrangeManBad no matter what you or a few whining farmers say.
You can hear them every year for every reason since forever.
Too much rain,
Not enough rain,
Too hot,
Too cold,
South America,
Crop rotation,
Overplanting,
Underplanting,
Aphids,
And yes - Government.
Not enough subsidy. And even sometimes - no subsidies needed!!!
Last year bean ES was half what it is today, and the price was $9.70 ish.
Now with TWICE as many beans in stock, a strong USD, and deflating commodity prices, and we are only $0.70 cheaper?
Nothing to do with OrangeManBad no matter what you or a few whining farmers say.
With your profile pic of the biggest pathological liar known to man, none of your statements carry any weight.
You would lie to the end of the world just like the Trump Univeristy scammer, you would lie to people's faces to protect your lie.
Peddle your sophistry to fellow Trumptards who are still waiting for Mexico to pay for the wall.