Trade
Recent soybean sales have created doubts on just how much China will source. One Ohio State University ag economist says corn, cotton, wheat and pork exports are solid when you compare them to overall commitments.
With the phase one trade deal with China official, farmers are expecting more positive momentum in the markets. However, they shouldn’t expect an extension of the MFP, according to USDA Secretary Sonny Perdue.
A phase one trade deal with China is official, clearing the way for America’s chief trade competitor to purchase $80 billion worth of U.S. agricultural goods over the next two years.
Hell hornets have arrived in the U.S. Asian giant hornet reaches just over 2” long and packs a painful, tissue-destroying sting capable of sending allergic victims to the morgue.
China said on Saturday it pressed the United States to eliminate tariffs in talks between the countries’ top trade officials that Washington saw as a test of bilateral engagement between the world’s biggest economies.
Despite slowdowns in the export sales picture, actual exports are still running 26% ahead of the same time period last year, and with higher commodity prices, bulk export values are up 60%. USDA says that’s led by corn.
A virtual working meeting is expected before year’s end between President Biden and Chinese leader Xi Jinping.
USTR divulges President Biden’s intentions with U.S.-China Trade Phase One while House Ag Committee’s Thompson applauds Trump and demonstrates hope in Biden.
China’s wheat imports hit the highest level in two decades, currently accounting for 19% of global consumption. The U.S. supplied 3 million metric tons of wheat imports during the last marketing year, or a 28% share.
Grain shippers on the Gulf Coast reported more damage from Hurricane Ida to their terminals on Wednesday as Cargill confirmed damage to a second facility, power outages across southern Louisiana kept others shuttered.
Hurricane Ida packed a punch of 150 mph winds this weekend, crippling grain shipping facilities in a key export area along the lower Mississippi River. Now it’s a question of how long export activity could be shuttered.
USDA is out with its new ag export forecast for both this year and next, and it’s showing exports could hit $173.5 billion in 2021, $4 billion more than 2020, due to higher livestock, poultry and dairy exports.
Shipping issues continue to surface. The latest is in China’s Ningbo-Zhoushan container port, which is the third-busiest in the world, and has been partially shut down for six days, with no sign of reopening yet.
China’s government quietly issued new procurement guidelines in May that require up to 100% local content on hundreds of items, and in turn, violated the spirit of the January 2020 Phase One trade deal with the U.S.
The dollar lurched lower on Monday, back towards the one-month lows hit last week when it became clear the Fed was in no hurry to tighten policy.
U.S. and Chinese officials met face-to-face for high-level talks, and the meeting had a tense tone as the countries remain at odds over issues from cyber security to human rights.
China will strengthen price controls on iron ore, copper, corn and other major commodities in its 14th five-year plan for 2021 to 2025 to address abnormal fluctuations in prices, the state planner said on Tuesday.
Brazil’s worst water crisis in almost a century will impact river navigation and make transportation of goods more expensive in the world’s largest exporter of commodities ranging from soybeans to coffee and sugar.
To build a more resilient supply chain, the White House just published a 250-page report with assessments and an expansive list of recommendations.
Demand for pork and grains is helping propel prices in 2021, and USDA is forecasting it to be a record year.
DC Signal To Noise: It’s time to take a closer look at the U.S. China trade relationship and the clock is ticking on the infrastructure bill.
A 17-year conflict over aircraft subsidies is coming to a temporary close as the U.S. and European Union have agreed to a truce, and it could spill over into a positive move for certain U.S. agricultural goods.
The Renewable Fuels Association (RFA) says China’s buying increased to 48.3 million gallons in March, which is the second largest monthly export total ever on record, just missing the high set in April 2016.
Some agricultural groups would like the newly-installed U.S. Trade Representative to reconsider some previous trade deals. That includes joining what was formerly known as the Trans Pacific Partnership.
Just this week, USDA confirmed U.S. sorghum shattered records last week, with a total of 33.9 million bushels of purchases. The total smashed the previous record set in August 2020 by 10 million bushels.
Brazilian production of ethanol from corn rose 58% in the newly passed year as dozens of recently built plants in the country’s grain heartland ramped up production.
The maneuvers to try to refloat the mega container ship Ever Given, stranded in the Suez Canal since last Tuesday, have been successful early this Monday.
USDA Secretary Tom Vilsack said a Mexican plan to ban imports of GMO corn would apply to grain used for human food products, not livestock feed, based on a conversation he had with Mexican Agriculture Secretary.
The first U.S.-China meeting of the Biden administration got off to a fiery start, with both sides leveling sharp rebukes of the others’ policies in a display that underscored the level of bilateral tension.
Farmers for Free Trade wants to see a full implementation of the Phase One trade agreement. A year into the deal, there are still accountability and compliance issues with China.