California Ag Tech Show and China's Soybean Purchases
From the Western Ag Network, I’m Bob Larson with your Agribusiness Update.
**Agricultural technology took center stage at a field day last month as a dozen developers showed off “smart” weeders and thinners, autonomous bird hazers and an autonomous lettuce harvester.
The University of California Ag and Natural Resources Connect event was designed to bring together stakeholders to discuss growers’ pain points and how to address them.
Nearly 300 growers, pest advisers, equipment manufacturers, educators and others took in the demonstrations hosted at Sabór Farms’.
**China purchased about 1 million metric tons of U.S. soybeans last week, providing a boost to American growers as harvest approaches and trade talks continue.
Four traders told Reuters that Chinese buyers booked 14 to 15 cargoes for shipment from U.S. Gulf terminals between December and February.
Reuters reports that brings China's U.S. soybean buying to nearly half of the 25 million metric tons Beijing committed to purchase annually through 2028.
**Wheat futures remain volatile as traders weigh continued disruptions to Black Sea grain exports against diplomatic efforts aimed at ending the Russia-Ukraine war.
The most-active contract traded around $7.39 a bushel after reaching a 3½-year high of $7.95 last week.
Wheat prices had climbed following reports of a Ukrainian strike on a Russian port, renewing concerns about disruptions to one of the world's most important grain-export regions.
