Headlines:
Russia offers 2.5 million acres of land to Chinese farmers, but will it ease Beijing’s soybean shortage?
Russia has made 1 million hectares (2.5 million acres) of arable land available to foreign investors – and while that could be boon for Beijing as it struggles with limited supplies of soybeans in its trade war with the US, analysts are concerned about the quality of the plots available. Valery Dubrovskiy, director of investment for the Far East Investment and Export Agency, a non-profit organization, said on Tuesday that several Chinese companies had already expressed an interest in the deal. “We expect most of the investment to come from China,” he said. “We expect 50 per cent from China, 25 per cent from Russia and 25 per cent from other countries, like Japan and Korea.” The announcement means that all of the 3 million hectares of arable land in Russia’s Far Eastern Federal District is now available to farmers, Dubrovskiy said, adding that the space is suitable for dairy farming or the growing of crops, such as soybeans, wheat and potatoes. While this reflects a significant increase in cooperation between Chinese agribusinesses and the Far East in recent years, observers are skeptical about the quality of the land being offered to foreign operators.
EPA Administrator Wheeler Visits Farmers at Iowa State Fair
In his first trip to Iowa as acting administrator of the EPA, Andrew Wheeler sat down with commodity and agribusiness leaders during a small roundtable event at the Iowa State Fair. Wheeler was welcomed to the Hawkeye state by Governor Kim Reynolds and Representative David Young. During the closed session, Iowa farmers shared their perspectives on trade, ethanol, and Waters of the U.S. (WOTUS). In a press conference immediately following the roundtable Congressman Young praised Administrator Wheeler for being “accessible and transparent” on the issues that are important to agriculture. “We talked a lot about the RVP, E15, and higher blends year-round, thanked the administrator and EPA on their actions that they’ve taken with waters of the U.S,” explained Governor Reynolds. “It was a great opportunity for our all of our commodity groups to really talk to them about how trade and tariffs are impacting what they’re doing and impacting the family farm agriculture in the state of Iowa.” In his brief comments after the round table Wheeler noted Reynolds was the first governor he spoke to in his new role. “I’ve really learned a lot today. I’ve enjoyed being here at the fair, not the least of which was helping to judge a pie making contest this morning. I really enjoyed that, but more so, I enjoy the roundtable we just had with the different ag groups here in the state, the commodity groups, listening to them, hearing what their concerns and problems are, and telling them a little bit about what we’re trying to do,” Wheeler said.
Summary:
A ship carrying soybeans from the United States docked in the port of Dalian on Saturday, more than a month after it arrived off China’s coast just hours after hefty tariffs were imposed on US goods, according to Thomson Reuters Eikon shipping data. The short journey into the northern Chinese port was the first by Peak Pegasus, which has 70,000 metric tons of US soybeans on board, since it arrived off the coast on July 6 soon after Beijing imposed 25 per cent import duties on $34 billion worth of US goods, including soybeans. The penalties were in response to a similar move by Washington as part of a tit-for-tat trade dispute between the world’s two largest economies. The ship was moored in the port area just after midnight on Sunday morning, according to the latest data. The move into the dock suggests the cargo may be about to be unloaded, becoming one of the first US soybean shipments to incur the new penalties as the trade dispute deepens. China’s state grain stockpiler Sinograin is the buyer of the shipment, according to a source familiar with the matter. Two other ships carrying US soybeans, Star Jennifer and Cemtex Pioneer, have been anchored off China’s coast for the past few weeks.
Corn market traded higher, bouncing back from recent lows and declining crop conditions. Midwest dryness was largely to blame. The soy complex traded higher on strength in soymeal and technical buying. The wheat market traded higher finding strength off of key support.
