Source: Danny Ding, NCDA&CS, 4/12/21
 
In the Prospective Plantings Report issued by USDA on March 31st, listed U.S. soybean acreage in 2021 was lower than market expectations. This discrepancy lead to increasing soybean futures prices to the limit. This has also caused a series of reactions in China's domestic market. All agricultural futures, including soybeans, had a certain increase in price.

The outbreak of the epidemic has also increased global timber prices by 188%. This wave of price increases also directly affected China's furniture market.

ATO offices in China are becoming increasingly active in organizing trade promotion events for U.S ag & food exporters and state rep. offices like us. Everyone is trying to fight the time back from last year’s loses.

On the COVID-19 front, in the past week, due to the recurrence of local cases in Yunnan Province, 3 high-risk areas and 6 medium-risk areas have been confirmed in Yunnan. However, no local cases have been reported in other parts of China.

The Beijing Municipal Government is trying every way to encourage and push people for vaccination. The progress is still slower than expected nationwide.