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Tag Archives: China

DEADLY SINS

China’s ruling Communist Party has listed golf and gluttony as violations for the first time as it tightens its rules to prevent officials from engaging in corrupt practices, Reuters reports.

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CHINESE PURCHASES

Contrary to reports that Chinese firms were buying or leasing millions of hectares of prime African farmland, Chinese investors have acquired only about 600,000 acres, according to a book published on Monday.

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CHINA AND ETHANOL

GROWMARK Energy says China has been increasing ethanol imports from both the U.S. and Brazil, but the volume has not been stable. It is believed they are using most of it to blend into gasoline.

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BIG BUY

Chinese trade groups signed contracts to buy more than 484 million bushels of U.S. soybeans, a deal worth $5.3 billion, says the U.S. Soybean Export Council. The deal is equal to one-eighth of this year’s crop and comes ahead of today’s meeting of Chinese President Xi Jinping and President Obama.

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DAIRY GLUT

A world milk glut and a decline in Chinese demand for imported dairy products have sent prices down by 50% in New Zealand. Many farmers there are borrowing to stay afloat and rural suicides have increased.

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U.S. SOYBEAN FARMERS LOSING OUT TO BRAZIL IN WORLD EXPORT MARKET

American soybean farmers are beginning to harvest what’s expected to be their second-biggest crop. At the same time, they’re seeing their share of the global export market shrink, reflecting the growing interdependence of Brazil and China in agricultural trading, as reported by Bloomberg News.

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CHINA PORK PRICES

The pickup in China’s consumer inflationary rate was mainly due to a recent increase in pork prices which jumped 19.6% from a year ago.

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PORK EXPORTS TO CHINA RISE

Smithfield Foods Inc., the world’s largest pork producer, increased shipments to China by 45% in the first half of this year, Chief Financial Officer Kenneth Sullivan said.

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CHINA: 8.5% DROP IS ‘BLACK MONDAY

Chinese stocks suffered their worst single-day loss in more than eight years, spurring a fresh phase of a global selloff that dragged the Dow Jones Industrial Average to an 18-month low. The Dow tumbled 588.40 points to 15871.35, as reported by the Wall Street Journal.

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ISLAND OF CALM

Monday’s grain markets seemed like an island of calm amidst the volatility of the stock market. AgriVisor’s Dale Durchholz told RFD Radio that China is unlikely to stop buying U.S. grain despite a slowing economy.

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