ADMISI London Wheat Report for 5 March

London Wheat Report

China’s new tariffs on U.S. farm goods are poised to reshape global trade flows, prompting the world’s top agricultural importer to source more meat, dairy and grains from countries in South America, Europe and the Pacific. Shipments to China from key soybean supplier Brazil, top wheat exporter Australia and major pork supplier Europe, could surge as a trade war hots up between the world’s largest economies, industry officials and analysts said. Meanwhile, China raised its annual grain production target on Wednesday to around 700 million metric tons and expanded its agriculture stockpile budget, as it pushed for stronger measures to safeguard food supplies as tensions with trade partners intensify.

U.S. President Donald Trump’s new tariffs on goods from Canada, Mexico and China threaten to hurt the $191 billion American agricultural export sector and raise costs for farmers struggling with low crop prices, farm groups warned on Tuesday.

London Wheat Report - Futuresource chart

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