U.S. soybean farmers remain frustrated by the lack of progress between the U.S. and China in resolving the trade war, which continues to immediately threaten soy prices and, if not resolved, farmers’ ability to stay in business. The American Soybean Association (ASA) has consistently opposed using unilateral tariffs to address U.S. trade deficits with China and other countries. Instead, ASA supports the negotiation of trade agreements and other measures that can increase U.S. agricultural exports, including soybeans.“The U.S. has been at the table with China 11 times now and still has not closed the deal. What that means for soybean growers is that we’re losing. Losing a valuable market, losing stable pricing, losing an opportunity to support our families and our communities. These trade negotiations are serious for us. Farming is our livelihood,” said Davie Stephens, soy grower from Clinton, Ky., and ASA president.The soybean industry realizes the Administration’s reasons for trying to force China to make structural changes to its predatory economic policies, including forced technology transfers, intellectual property theft, and subsidies to state-owned enterprises. Yet, ASA has and continues to recommend that the U.S. achieve these goals through coordinated actions with like-minded developed countries.“We’ve been understanding during this negotiation process, but we cannot withstand another year in which our most important foreign market continues to slip away and soybean prices are 20 to 25 percent, or even more, below pre-tariff levels,” said John Heisdorffer, ASA Chairman and Keota, Iowa, soy grower. “The sentiment out in farm country is getting grimmer by the day. Our patience is waning, our finances are suffering, and the stress from months of living with the consequences of these tariffs is mounting.”The Administration decided on May 10 to increase tariffs on $200 billion in Chinese goods, from 10 to 25 percent, in order to increase pressure on China to make structural changes to its economic policies, and is also taking steps to impose a 25 percent tariff on the remaining $325 billion in annual imports from China. In turn, China has announced plans to retaliate. With this further escalation in trade tensions and no end in sight, the situation for U.S. growers is dire.“The soybean market in China took us more than 40 years to build, and as this confrontation continues, it will become increasingly difficult to recover. With depressed prices and unsold stocks expected to double by the 2019 harvest, soybean farmers are not willing to be collateral damage in an endless tariff war,” said Stephens.While we support the Administration’s overall goals in these negotiations, ASA cannot support continuing and escalating the use of tariffs to achieve them. Farming is too vulnerable a business to tolerate this much uncertainty over a prolonged period. We call on the Administration to conclude an agreement focused on significantly reducing the U.S. trade deficit with China, including restoring and increasing our agricultural exports and eliminating China’s 25 percent tariff on U.S. soybeans. We would support the use of other tactics to pursue the structural changes the U.S. is seeking in China’s economic policies, including working with like-minded countries.
The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Top Stories “Lovie Smith is targeting two places I’m told with strong defensive personnel,” NFL.com’s Ian Rappaport said on NFL Network’s “NFL Total Access” Monday night. “One is Buffalo, I think that’d be an option, and Lovie Smith is also very interested in the Arizona Cardinals. “Another team with a fierce defensive personality, and of course, more quarterback questions.”Smith was let go by the Bears after the team posted a 10-6 record this season. They missed the playoffs after starting the season, which likely prompted the move. Smith spent nine seasons in the Windy City, posting an 81-63 mark. The Bears won the NFC North three times and represented the NFC in Super Bowl XLI. Most of the talk around the Arizona Cardinals search for a head coach has revolved around just a few names. Andy Reid, Ray Horton and Mike McCoy either have or are scheduled to interview with the team, and Bill O’Brien has also been rumored to be a candidate. One name that has not been brought up is that of former Chicago Bears coach Lovie Smith, though apparently not due to a lack of interest from the coach himself. Former Cardinals kicker Phil Dawson retires 0 Comments Share Derrick Hall satisfied with D-backs’ buying and selling Grace expects Greinke trade to have emotional impact
Join the conversation → Reddit Share this storyLoblaw profit beats expectations as more people shop at its food and drug stores Tumblr Pinterest Google+ LinkedIn Reuters Loblaw profit beats expectations as more people shop at its food and drug stores Canada’s largest grocer expands home delivery to compete with Amazon.com advertisement Loblaw Cos Ltd said retail same-store sales, both in the food and drug segments, grew 1.7 per cent in the quarter.Canadian Press ← Previous Next → Twitter Featured Stories February 21, 20197:24 AM EST Filed under News Retail & Marketing Sponsored By: Facebook 0 Comments What you need to know about passing the family cottage to the next generation More Comment Recommended For You’We were experiencing headwinds’ — Canopy Growth stock heads south on poor sales ramp-upDefining the future of Canadian competitiveness: How partnerships between industry and educational institutions can help lead the way forwardTrans Mountain construction work can go ahead as National Energy Board re-validates permitsDavid Rosenberg: Deflation is still the No. 1 threat to global economic stability — and central banks know itBank of Canada drops mortgage stress test rate for first time since 2016 Loblaw Cos Ltd reported a better-than-expected quarterly profit on Thursday, as more people shopped at the Canadian retailer’s food and drug stores.In the face of stiff competition from Amazon.com Inc , Loblaw has been expanding its home delivery services in Canada, through its partnership with San Francisco-based online grocery chain, Instacart.Adjusted gross profit in the retail segment, the company’s biggest, rose 2.6 per cent to $3.25 billion.The company said retail same-store sales, both in the food and drug segments, grew 1.7 per cent in the quarter.Excluding items, the company earned $1.07 per share, beating analysts’ average estimate of $1.04 per share, according to IBES data from Refinitiv.Net profit available to shareholders rose to $221 million, or 59 cents per share, in the fourth quarter ended Dec.31, from $31 million, or 8 cents per share, a year earlier.Revenue rose to $11.22 billion from $10.99 billion.© Thomson Reuters 2019 Email