It appears China has stopped buying soybeans from the US altogether because of trade fight

[TheCount]

• "Whatever they're buying is non-U.S.," Soren Schroder, CEO of New York-based Bunge, the world's largest oilseeds processor, told Bloomberg in a phone interview.
• China canceled a net 62,690 metric tons of U.S. soybean purchases in the two weeks ended April 19, the Bloomberg article pointed out, citing USDA data for the current marketing year.
• The country is the second largest market for U.S. agricultural exports, and soybeans have historically have been one of the top products sold to the Asian giant, according to the U.S. Department of Agriculture Foreign Agricultural Service.

https://www.cnbc.com/2018/05/02/it-a...ade-fight.html

[XNavyNuke]

60,000 tons? OMG. The sky is falling! The sky is falling!

Now let's do the math that journalism majors are incapable or unwilling to do. It's simple arithmetic, so feel free to follow along.

1 metric ton of soybeans is ~30 bushels.
60k tons is ~ 1.8M bushels.
A Panamax cargo vessel usually has 7 cargo holds.
Each cargo hold has the capacity of 300k bushels.

China cancels almost (6/7th) of a single ship's worth of soybeans. Not a trade war. Rounding error that might be considered posturing at best.

XNN

[TheCount]

The farmers themselves are a rounding error too.

[kcchiefs6465]

60,000 tons? OMG. The sky is falling! The sky is falling!

Now let's do the math that journalism majors are incapable or unwilling to do. It's simple arithmetic, so feel free to follow along.

1 metric ton of soybeans is ~30 bushels.
60k tons is ~ 1.8M bushels.
A Panamax cargo vessel usually has 7 cargo holds.
Each cargo hold has the capacity of 300k bushels.

China cancels almost (6/7th) of a single ship's worth of soybeans. Not a trade war. Rounding error that might be considered posturing at best.

XNN

How many workers does it take to grow, package and ship 60,000 tons of soybeans and are these soybeans being offloaded elsewhere?

Or in the interest of saving jobs, have other jobs been destroyed?

[shakey1]

Maybe they're opting for non-GMO.

[spudea]

The farmers themselves are a rounding error too.

Why didn't you post the original source article from Bloomberg that CNBC copied? I guess it didn't have the click bait bull$#@! headline that you crave.

[pcosmar]

The farmers themselves are a rounding error too.

And the trains,, That is like one train, 60 cars of beans. (I'm being very generous in estimation)

Do you have any idea of how many trains pass by me every day,?, and this is only one of many track lines.

[pcosmar]

Just saw a train with a whole ship of Hyundai Boxes. Headed south. Likely from SeaTac.

[pcosmar]

I hope they are getting good prices for the Coal..

I see more coal trains out here than anyone has use for. It must be shipping somewhere else.

[dannno]

Just saw a train with a whole ship of Hyundai Boxes. Headed south. Likely from SeaTac.

Hoping this replaces most of the priuii (priuses) out there..

[pcosmar]

Hoping this replaces most of the priuii (priuses) out there..

[dannno]

LOL, ok, you can have this then..






I'd prefer this by several fold..

[Brian4Liberty]

Taken at face value, which others have already disputed, it is interesting that China did not add or increase a tariff or fee, which if proposed by the US is met with howls and cries of impending doom, but China is supposedly cutting all imports of soybeans. And what is the reaction to that? Is it a good and reasonable move by China?

[pcosmar]

LOL, ok, you can have this then..

I would rather something along the lines of,,



or maybe a 34 ford pickup with a Flathead motor..as a daily driver.

[juleswin]

60,000 tons? OMG. The sky is falling! The sky is falling!

Now let's do the math that journalism majors are incapable or unwilling to do. It's simple arithmetic, so feel free to follow along.

1 metric ton of soybeans is ~30 bushels.
60k tons is ~ 1.8M bushels.
A Panamax cargo vessel usually has 7 cargo holds.
Each cargo hold has the capacity of 300k bushels.

China cancels almost (6/7th) of a single ship's worth of soybeans. Not a trade war. Rounding error that might be considered posturing at best.

XNN

Lets see, if the article is true which I say because dunno if the CNBC or bloomberg is a credible source. But we are reading a story about he 2nd larger US market for soy bean ending their importing of US soy beans plus cancelling the orders they've already made to buy said soy beans and some people think its not a big deal?

[pcosmar]

Lets see, if the article is true which I say because dunno if the CNBC or bloomberg is a credible source. But we are reading a story about he 2nd larger US market for soy bean ending their importing of US soy beans plus cancelling the orders they've already made to buy said soy beans and some people think its not a big deal?

A hill of beans.

and not a very big hill.

[NorthCarolinaLiberty]

The farmers themselves are a rounding error too.

You're RPF's second biggest error.

[specsaregood]

Hoping this replaces most of the priuii (priuses) out there..

It seems like everybody out here has been getting rid of the Priuses they acquired under the Obama reign. Most going to SUVs or Subarus. Its like they woke up and said, "well trumps president now, we don't have to pretend to give a f*ck."

[juleswin]

A hill of beans.

and not a very big hill.

Really, the second biggest importer of US soybeans is stopping their importation and calling all their previous orders and its not a very big bean hill?

[dannno]

Really, the second biggest importer of US soybeans is stopping their importation and calling all their previous orders and its not a very big bean hill?

Apparently not so much.

I think China grows a lot of soybeans too.

[juleswin]

Apparently not so much.

I think China grows a lot of soybeans too.

Grows and consumes a lot of soy beans. Asian people do eat a lot of soy products. But my post was to emphasize the part of people on this thread seems to be missing. That is the fact that the Chinese seems to have stopped buying US soy beans. Instead everybody is focused on the amount they cancelled which I believe from the agric experts on this forum is a small amount.

I can't see how any of this is good for business.

[Swordsmyth]

Someone else will buy them and China will have higher food prices.
China's economy is more fragile than ours, they will either come to terms when Trump doesn't back down or they will collapse, we will rebuild our economy and emerge stronger either way.

[pcosmar]

Grows and consumes a lot of soy beans. Asian people do eat a lot of soy products. But my post was to emphasize the part of people on this thread seems to be missing. That is the fact that the Chinese seems to have stopped buying US soy beans. Instead everybody is focused on the amount they cancelled which I believe from the agric experts on this forum is a small amount.

I can't see how any of this is good for business.

They will sell it to yuppies. likely for more than Foreign markets will pay..

[oyarde]

Lets see, if the article is true which I say because dunno if the CNBC or bloomberg is a credible source. But we are reading a story about he 2nd larger US market for soy bean ending their importing of US soy beans plus cancelling the orders they've already made to buy said soy beans and some people think its not a big deal?

Last I looked May through Oct bean prices were not affected . I sell a few beans myself . I do not know that it will have any impact . I also am not sitting on many beans now . I typically sell what I wish before Nov property taxes are due .

[Zippyjuan]

South American soy crops are currently being harvested. Most US soy sales to China occur in the fall.



https://apps.fas.usda.gov/esrquery/egraph5y.aspx

[XNavyNuke]

South American soy crops are currently being harvested. Most US soy sales to China occur in the fall.

So? Soy, like most crop commodities, is fungible. Any country can choose where to buy soy on the world market. Southern Hemisphere soy is coming on the market. In six months it will be Northern Hemisphere. The US, Canada, Europe, and Russia.

XNN

[Jamesiv1]

Anybody that thinks its wrong to cancel an order of soybeans can get the hell out.

[XNavyNuke]

Last I looked May through Oct bean prices were not affected . I sell a few beans myself . I do not know that it will have any impact . I also am not sitting on many beans now . I typically sell what I wish before Nov property taxes are due .

Do you put in early beans and late beans? Around here if it looks like beans are going to be down, you drill milo in the wheat stubble. Most people don't realize that there is no such thing as a soy farmer. You got row crops and adjust to what you think gives you the best chance of a good return.

XNN

[XNavyNuke]

I can't see how any of this is good for business.

World demand remains the same. The beans will continue to move to the coast by barge and rail. Ships will continue to be loaded though their destination will change. That will disrupt shipping rates for a short time as distances change. Early beans haven't been planted yet over most of the Northen Hemisphere. If it appears the market will glut, farmers will adjust their planning but land will not lie idle.

XNN

[oyarde]

Do you put in early beans and late beans? Around here if it looks like beans are going to be down, you drill milo in the wheat stubble. Most people don't realize that there is no such thing as a soy farmer. You got row crops and adjust to what you think gives you the best chance of a good return.

XNN

Here all the beans are early beans except the late beans that double crop in the wheat stubble . The late beans are riskier because if the rain does dry up it will typically be in that time period . Here bean farmers are also corn farmers and smaller farms still have livestock and hay . When I was young it was a little more diverse because most guys grew one or two also of sorghum , tobacco , oats along with corn , wheat and beans and also everyone had beef , pork and chickens and some sheared sheep. There are still a couple big farms that also produce tomatoes and green beans commercially but that , pumpkins and sweet corn are mostly specialized with the farms that have a vegetable stand that sells to the public .