China's Soybean Purchases and Gray Wolf Delisting
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**China has secured at least seven million tons of U.S. soybeans after multiple purchases in recent weeks.
Bloomberg says that puts the Asian country over halfway to meeting the 12-million-ton purchase agreement it made with the Trump administration.
The total comes from purchases by Sinograin, the state company in charge of managing China’s grain stockpiles.
They purchased about two million tons in the last week alone, with buys continuing into this week.
**The Energy Information Administration says ethanol output jumped to a new record high in the seven days ending December 12.
U.S. production rose to an average of 1.131 million barrels a day, eclipsing the record set two weeks earlier.
Midwest output rose to 1.078 million barrels a day, up from 1.046 million.
East and West Coast production was steady at 20,000 barrels.
Gulf Coast and Rocky Mountain production dropped to 6,000 barrels.
**The Pet and Livestock Protection Act passed the House with a bipartisan vote.
The National Cattlemen's Beef Association and Public Lands Council have been strong supporters of this legislation which would reissue the 2020 rule delisting gray wolves in the lower 48 states and ensure the delisting cannot be overturned in federal court again.
Since being listed under the ESA in 1974, the gray wolf has seen tremendous recovery, exceeding the goals by 300%.
