President Trump to Use a Softer Touch on Halting Chinese Tech Investment
Trump announced yesterday that he will use a US national security panel to prevent Chinese purchases of American tech companies. These controls put in place by the Committee on Foreign Investment in the United States (CFIUS) have authority from Congressional approval and would not simply be specific to China. This is seen as a win for Treasury Secy Steven Mnuchin, who prefers a less aggressive curb of Chinese tech acquisition. This method of enforcing the Foreign Investment Risk Review Modernization Act will not prevent the implementation of $34 billion worth of tariffs on July 6.
New Crop Corn and Bean Export Sales Surpass Expectations
Sales for new crop corn were 87% higher over last week. South Korea, Mexico, and Japan made up a majority of the purchases for the week. New crop soybean sales were up 182% over last week as bargain buyers enter the market. Pakistan, Thailand, and Mexico constituted the bulk of sales.
|
Actual |
Estimated |
Last Week |
|
|
Wheat |
563.7 |
250-500 |
461.6 |
|
Corn-OC |
849.9 |
600-1,000 |
165.9 |
|
Corn-NC |
636.8 |
200-400 |
339.7 |
|
Soybeans-OC |
358.5 |
300-600 |
301.7 |
|
Soybeans-NC |
642.3 |
100-400 |
227.6 |
|
Soymeal-OC |
146.3 |
100-250 |
115.1 |
|
Soymeal-NC |
75.5 |
0-50 |
5 |
Chinese Ag Science Board Meeting Seen as Good Sign for GMO Imports
A Chinese scientific advisory board met for the first time in a year, a potential signal that China may be preparing to accept new GMO crops for import. Crops waiting for approval are 2 types of soybeans and 1 of canola from Dow DuPont and 2 alfalfa and 3 canola varieties from Bayer/Monsanto. GMOs are not allowed to be planted in China but some are approved for import. China is seeking to originate crops from outside of the US and may speed up the approval process to meet demand.
The risk of trading futures, hedging, and speculating can be substantial. FBN BR LLC (NFA ID: 0508695)
