China
John Phipps says the rapid reduction in farmer numbers is a result of government efforts to raise money, since the government owns the land, and achieve modest economies of scale for added productivity.
Roughly 37.6 million acres of U.S. ag land is foreign owned, according to USDA. However, select purchases of U.S. land could come to an end following a Senate vote this week.
China contains the largest population of any country in the world. All those mouths drive demand across the globe and for your farm’s products.
The July Ag Economists’ Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.
The House Select Committee on the Chinese Communist Party (CCP) introduced an act to prevent foreign adversaries from exploiting U.S. land near security sites, and would push a review of current ownership in these areas.
This slump, deeper than May’s 7.5% drop, represents the largest decline since February 2020.
Beijing on Monday announced export controls on gallium and germanium. Now the Biden administration is set to restrict Chinese companies’ access to U.S. cloud-computing services that use AI chips.
The U.S. and China have reportedly made “progress” and agreed to stabilize their relationship, but no major breakthroughs were outlined during the two-day meeting between U.S. and China high-ranking officials.
China’s exports to Russia reached a record high in April, amounting to $9.6 billion.
The Office of Investment Security proposed a rule on Friday that would require foreign entities to garner U.S. government approval before they are able to purchase land within 100 miles of eight military bases.
The Missouri Senate on Wednesday backed a plan to amend the state’s foreign land ownership threshold. The bill also includes a provision that would limit foreign countries from acquiring farmland in Missouri by Sept. 1.
Former President Donald Trump placed tariffs on more than $300 billion in Chinese goods during his presidency, raising costs for American companies, according to the ITC.
Russia badly needs to replace expended and outdated Soviet arms while China needs Russian energy. That is compelling math. This is bad news not just for the heroic people of Ukraine, but Europe and the US.
“In this current situation, the traditional approach to free trade agreements — which isn’t just tariff cuts, but that they do tariff cuts on a fully comprehensive basis — isn’t what we need right now,” Tai says.
Much ink and many pixels have been wasted, in my opinion, on rants about people other than U.S. farmers owning farmland. Surprisingly, critics are just as hard on wealthy Americans as foreigners.
Officials in China now say the population sits at 1.4 billion, which came as a surprise to many economists and market analysts. The news draws concerns about what it means for demand both short- and long-term.
China, the top food importer on the planet and biggest buyer in history, is entangled in a potentially devastating population crash and the effect could be massive for U.S. agriculture.
If the nation’s debt hits $31.4 trillion—it’s on track to do so by this Thurs.—the Treasury will need to take “extraordinary measures” to help pay the government’s operations and ward off a historic default.
China’s state-owned grains trader COFCO said a new joint venture it has set up with state stockpiler Sinograin to manage the country’s grain reserves will officially begin operations next month.
Export tariffs on aluminum and aluminum alloys will be raised. The current import tariff will stay on seven types of coal until March 31, with tariffs adopted for most favored nations from April 1.
“There is a problem with people thinking the pullback of Covid-zero measures is equivalent to the economy reopening, which it is not.” says Leland Miller, CEO of research firm China Beige Book.
The top official in charge of China’s COVID-19 response told health officials Wednesday that the country faced a “new stage and mission” in pandemic controls.
China moved to close parks, malls and museums on Tues. as COVID-19 cases hit near-record levels. Lockdowns follow reports that, days before COP27, Xi sent policy and business advisers to New York to meet U.S. executives.
“We need to find the right direction for the bilateral relationship going forward and elevate the relationship,” Xi said, while Biden stressed that the two countries can compete without it turning into a conflict.
Chinese leaders are considering steps toward reopening after nearly three years of tough pandemic restrictions. The news comes as China’s imports and exports slow on rising risks of a global recession.
“In the last 2,500 years, every Chinese government that has fallen, has fallen over food,” says Kuehl, Armada chief economist. “They need those import markets—be it from the U.S, Canada, Brazil or Australia.”
Global inflation will likely decrease to 6.5% in 2023 and to 4.1% by 2024, according to the International Monetary Fund (IMF) forecast.
Have the Pacific Coast port bottleneck issues been resolved, or moved somewhere else? The East Coast may now be carrying the burden.
While China grapples with choosing which production lines to reopen, the food shortage conversation looks to ramp up.
Fufeng Group recently bought 300 acres of land in North Dakota and the proximity to a U.S. military base has many concerned. But this isn’t the first time questions have been raised about China’s stake in the U.S.