China's soybean imports from Brazil fell 22.2 per cent in April from a year earlier, data showed on Tuesday, as harvest delays, logistics issues and prolonged customs clearance disrupted shipments.
Chicago wheat futures moved lower on Friday as traders weighed improved yield prospects in the U.S. Plains, though brisk export demand limited losses, traders said.
Brazil, the world’s largest chicken exporter, confirmed its first outbreak of bird flu on a poultry farm on Friday, triggering a country-wide trade ban from China and state-wide restrictions for other major consumers.
Chicago soybean futures on Thursday plummeted from the previous session's 10-month high, pressured by a sharp drop in soyoil caused by concerns over U.S. biofuel targets, traders said.
Chicago Board of Trade soybean futures set a nearly 10-month high on Wednesday as the truce in the U.S.-China tariff dispute and a proposal to extend a U.S. biofuel tax credit boosted hopes for demand.
U.S. soybean exports may drop 20 per cent and prices will plunge if the United States and China fail to resolve their trade dispute limiting U.S. soybeans from their largest market, agribusiness consultancy AgResource said on Wednesday.
U.S. cattle producers have started rebuilding the nation's herd or are close to doing so, Tyson Foods CEO Donnie King said on Wednesday, after supplies dwindled to a 74-year low.
Chicago soybean futures settled higher on Tuesday on strength from a temporary truce in the U.S.-China trade war and a bullish U.S. Department of Agriculture report, though profit-taking pressured prices throughout the session.