A farmer harvesting soybeans in Wyanet, Illinois, on Saturday. Photo: Bloomberg

US farm sales to China could hit pre-trade war level by 2020 election

  • China aiming to buy at least US$20 billion of agricultural products in a year if it signs partial trade deal with the US
  • USDA reported sale of 264,000 tonnes of US soybeans to China for delivery in 2019/20 marketing year
Topic |   US-China trade war

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A farmer harvesting soybeans in Wyanet, Illinois, on Saturday. Photo: Bloomberg
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Pigs lie in a pen before being butchered at Smithfield Foods’ pork processing facility in Milan, Missouri on Wednesday, April 12, 2017. WH Group of Hunan acquired Virginia-based Smithfield, the world's largest pork producer, in 2013 for US$6.95 billion. Photo: Bloomberg

America’s mountain of uneaten bacon is sitting in the freezers as farmers placed wrong bets on China’s demand for pork bellies

  • More than 40 million pounds (18,000 metric tonnes) of pork bellies were sitting in refrigerated warehouses as of September 30, according to US government data, the most since 1971
  • Bellies have seen a magnified inventory increase because demand is mostly domestic, unlike cuts such as ham, for which overseas buying can help reduce reserves
Topic |   Food and agriculture

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Pigs lie in a pen before being butchered at Smithfield Foods’ pork processing facility in Milan, Missouri on Wednesday, April 12, 2017. WH Group of Hunan acquired Virginia-based Smithfield, the world's largest pork producer, in 2013 for US$6.95 billion. Photo: Bloomberg
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