China Approves Import of First Domestic GM Soybean for Feed Use

China has approved the import of two new genetically modified (GM) soybean varieties, including one developed by local firm Beijing Dabeinong Technology Group Co Ltd, its agriculture ministry said on Tuesday, making it the first Chinese engineered soybean allowed for import.

Dabeinong signed an agreement with Argentinian biotechnology company Bioceres SA in 2013 to help it get regulatory approval for production of its DBN-Ø9ØØ4-6 glufosate and glufosinate-resistant soybean in Argentina.

The Argentinian authorities granted safety approval for the variety in February 2019 but it has not yet been planted, pending approval by...

University of Copenhagen: Fava Beans Could Replace Soy

Tofu, soy milk and veggie mince. More and more Danes are opting to supplement or completely replace their consumption of animal-based proteins with plant-based proteins. Climate considerations are part of their reasoning.

We often use soy-based protein when experimenting with vegetarian cooking. But, new research from the University of Copenhagen’s Department of Food Science demonstrates that fava beans hold great promise as a non-soy source of plant protein. Moreover, favas are...

Coronavirus Hits Chinese Soy Supply Chain, Lowering Consumption and Import Needs

The outbreak of coronavirus (designated as Covid-19 by the WHO) will hit Chinese soy oil and soymeal consumption, primarily in Q1 and early Q2 2020. Barring an extreme escalation of the epidemic, both are expected to register a robust rebound in 2H 2020.

Due to weakened Chinese demand, strong competition from South America, and seasonal trade patterns, China’s import pace of US soybeans will remain slow in the coming months. Lower-than-previously-anticipated procurement of US soybeans, might run the risk of reigniting the trade war during the US election campaign.

This research is based on the information available to date. As the situation remains fluid, Rabobank is closely monitoring the developments and...

Rabobank: Supply Slide Saves Grounded Demand

Agricultural commodities were heavily impacted by trade wars, African swine fever, and erratic weather in 2019. According to the RaboResearch report "Outlook 2020: Supply Slide Saves Grounded Demand," many of these factors will remain key for agri commodity prices in 2020.

In 2019, agri commodity markets were impacted by several unprecedented incidents and uncommonly severe conditions. China's hog herd declined significantly, as a result of African swine fever (ASF). This drastically weakened demand for feed and, combined with the US-China trade war, resulted in a significant slowdown in the global soybean trade.

Meanwhile, record US corn- and soybean-planting delays drove corn prices from three-year lows to six-year highs within a few weeks. Then, improved...

Cargill to Invest $225 Million at Facility in Sidney, Ohio

Cargill is expanding its integrated soybean crush and refined oils facility in Sidney, Ohio, to better serve area farmers and to meet growing demand for protein and refined oils.

The company will invest approximately $225 million at the Sidney site, increasing crush capacity and modernizing operations. The investment creates greater market access for farmers’ crops in the area and allows those farmers to deliver their soybeans more efficiently, as the upgraded plant will unload trucks at a much faster rate.

“Farmers are at the core of our business. This investment will help us provide them a better experience when they choose to sell their crops to us,” said Don Camden, commercial leader for the eastern region of...

Reports and Data: Soy Protein Ingredients Market to Reach $16.6 Billion by 2026

According to Reports and Data, the global soy protein ingredients market was valued at $9.7 billion in 2018, and is expected to reach $16.6 billion by the year 2026. This increase would be a compound annual growth rate of 6.9%. The consumer base of the soy protein ingredient market has increased over the years, with a rise in the number of health-conscious consumers. The soy protein ingredients market is undergoing various technological advancements. Mainly used for the production of nutrition bars, soy proteins are meeting the needs of the bar manufacturing industry through the development of various shapes, sizes, hardness, and isolates. With the changing needs of the manufacturers in the industry, processes are expected to improve.

Available in a wide range of products, soybeans are one of the few alternative proteins containing all essential amino acids. Familiar food preparations include products such as tofu, soymilk, and tempeh. Cereal blends are another product, consisting of...

China to Exempt U.S. Pork, Soybeans from Additional Tariffs -Xinhua

China will exempt some agricultural products from additional tariffs on U.S. goods, including pork and soybeans, China's official Xinhua News Agency said Friday, in the latest sign of easing Sino-U.S. tensions before a new round of talks aimed at curbing a bruising trade war.

The United States and China have both made conciliatory gestures, with China renewing purchases of U.S. farm goods and U.S. President Donald Trump delaying a tariff increase on certain Chinese goods.

China had imposed three rounds of additional tariffs on U.S. pork, including 25% increases in April and July 2018 and a 10% bump this month, raising the total duty from...

USDA Forecasts U.S. Corn and Soybean Production Down from 2018

The Crop Production report issued today by USDA’s National Agricultural Statistics Service (NASS) forecasted soybean and corn production down from 2018. Soybean production is down 19 percent from 2018, forecast at 3.68 billion bushels; corn growers are expected to decrease their production 4 percent from last year, forecast at 13.9 billion bushels.

Area for soybean harvest is forecast at 75.9 million acres with planted area for the nation estimated at 76.7 million acres, down 4 percent from the June estimate, and down 14 percent from last year. Soybean yields are expected to average 48.5 bushels per acre, down 3.1 bushels from last year. If realized, the forecasted yield will be a record high in...