West of Mpls MN about 50 miles on Hwy 12 | https://www.reuters.com/markets/commodities/view-chinas-march-import...
BEIJING, April 14 (Reuters) - China's imports of crude oil rose in March from a year earlier, while those of soybeans, coal, iron ore and unwrought copper dropped, customs data showed on Monday.
China's exports rose sharply in March after factories rushed out shipments before the latest U.S. tariffs took effect, but an escalating Sino-U.S. trade war has darkened the outlook for factories and growth in the world's second-biggest economy.
KEY POINTS:
* Soybeans: March imports at 3.5 mmt, down 36.8% y/y
* Crude oil: March imports at 51.41 mmt, up 4.8% y/y
* Unwrought copper: March imports at 467,000 mt, down 1.4% y/y
* Coal: March imports at 38.73 mmt, down 6% y/y
* Iron ore: March imports at 93.97 mmt, down 6.7% y/y
* Rare earths: March exports at 5,666.3 mt, up 20.31% y/y
COMMENT ON SOYBEANS
ROSA WANG, ANALYST, JCI, SHANGHAI
"The market was concerned about a trade war after Trump took office. Additionally, with expectations of a bumper crop in Brazil, most orders were for Brazilian soybeans. The delayed harvest and traffic jam in Brazil also contributed to the low import numbers in March." |
So long soybeans
