Temperatures in China were very mixed in the past week, with northern and northeastern China above average, while most of the central and southern regions below average. Some regions in northern China got more snow, which is helpful for soil moisture conditions. However, some areas further south reported too much moisture with low-lying farmland suffering… Continue reading Mixed weather, winter wheat condition worsens in key region
Category: Analysis
Hog price continues to retreat, state media argues against intervention
Hog prices in China continue to fall with March futures making new lows at 12.36 yuan/kg (US$1.94/kg) and cash prices edged further lower to 12.57 yuan/kg (US$1.98/kg), the lowest level since October. Losses at hog farming operations worsened with the hog-to-corn ratio falling to levels that trigger the government’s highest alert and induced state stockpiler… Continue reading Hog price continues to retreat, state media argues against intervention
China’s Pfizer drug approval raises hopes of a tourism rebound
China’s Food and Drug Administration has given conditional approval for Pfizer’s Covid treatment pill Paxlovid. Stocks of tourism and hotel companies surged on Monday with many rising to the 10% limit-up, on hopes that this marks the beginning of a tourism rebound. Domestic spending on tourism and restaurants has plunged in the past 20 months,… Continue reading China’s Pfizer drug approval raises hopes of a tourism rebound
Chinese banks offer loans for spring planting amid surging fertilizer cost
State banks are set to provide 250 billion yuan (US$39 billion) in funds for famers ahead of the spring planting season, China’s state media said on Monday. Agriculture Bank of China has told its branches to establish expediated ‘green channels’ to quickly provide credit for farmers and is expecting to loan 150 billion yuan (US$23.62… Continue reading Chinese banks offer loans for spring planting amid surging fertilizer cost
Soybean premiums slump on China cargo washout rumors
Cash premiums for soybeans from Brazil and the US on CFR China basis had a roller coaster session in the past two weeks due to the interplay of factors including strong Chinese state-backed purchases and mounting fears of weaker Brazilian soybean output last week as well as fresh rumors of cargo washout this week. Soybean… Continue reading Soybean premiums slump on China cargo washout rumors
Yum’s strong earnings reflect fast changing diet in China
Yum China, the parent company of brands such as KFC, Pizza Hut, and Taco Bell in China, posted a revenue of $9.85 billion USD and profits of $1.39 billion USD for 2021. The company continues to expand rapidly in China with 11,788 existing stores and added 1,232 new KFC outlets and 335 new Pizza Hut… Continue reading Yum’s strong earnings reflect fast changing diet in China
Why the US-China Phase One Trade Deal was doomed to disappoint
As 2021 trade data becomes available, it is clear that trade volumes pledged under the US-China Phase One Trade Agreement were underdelivered. Estimates are that China bought only 57% of the target and China’s imports from the US did not exceed pre-trade war levels. On the contrary to former US President Donald Trump’s hope to… Continue reading Why the US-China Phase One Trade Deal was doomed to disappoint
Heilongjiang to add 1.3m tons soybean production this year: gov
China’s largest soybean and corn growing province Heilongjiang is to add 1.3 million tons of soybean output capacity in 2022 amid an ambitious acreage expansion plan, local government said recently. The provincial agriculture department said it will allocate 10 million mu (666,667 hectares) more land for soybean planting this year to boost output. China has… Continue reading Heilongjiang to add 1.3m tons soybean production this year: gov
China to restock pork reserve amid weak hog price, futures spike
China’s state planner said it is preparing to stock national pork reserve as hog price has fallen below a critical level. The Chinese government could soon replenish its pork reserves across the country hog-to-corn price ratio slumped to 5.57 to 1, said China’s National Development and Reform Commission (NDRC) on Tuesday. The ratio is currently… Continue reading China to restock pork reserve amid weak hog price, futures spike
China meal, oil futures spike after national holiday
Futures for vegetable meal and oil in China jumped sharply in the first trading day after the week-long Lunar New Year holiday as concerns of lower Brazilian soybean output and higher crude oil price spilled over. The main soymeal contract on Dalian Commodity Exchange (DCE) gapped up nearly 8% by mid-Monday to 3,636 yuan/ton (US$572/ton),… Continue reading China meal, oil futures spike after national holiday