Trade
Mizzou’s Ben Brown says the 81.2 million bushels new crop export sale marks the largest week of sales for the 2023/24 marketing year to date and double the previous record weekly volume for the year set last week.
USDA on Thursday lowered expectations for both ag exports and imports in FY 2023. The export decline is linked to corn and wheat, while the import decline is correlated with easing prices.
Brazil briefly wore the global corn export crown in 2012 because of the U.S. drought. With the ability to churn out three corn crops per year and a supply deal with China, Brazil might be set to maintain that title.
If this test voyage is successful, Cargill aims to add 10 more vessels to be wind-powered.
Agricultural R&D can help developing countries address their own unique challenges and shore up local food systems to better withstand shocks. This blog summarizes a research paper on this topic.
China’s economic woes continue to mount with continued data pointing toward a recession. What does this mean for U.S. ag exports?
“Mexico’s decree, which runs counter to scientific findings and is in direct violation of USMCA, is negatively impacting American corn growers,” said Tom Haag, NCGA president.
Drought is impacting operations along the Panama Canal, one of the largest shipping channels in the world, with restrictions now placed on both the number of ships, as well as the amount of cargo they can carry.
John Phipps says the rapid reduction in farmer numbers is a result of government efforts to raise money, since the government owns the land, and achieve modest economies of scale for added productivity.
The ag port addition is expected to increase exports of DDGS, corn and soybeans by 400,000 metric tons each year.
In Mexico, corn is much more than a food crop—it’s a key part of the country’s heritage, culture and traditions. Mexico argues glyphosate and GMOs are dangerous to human health, and seeks alternative practices.
Ukraine is a key player in global agriculture, and how these conflicts play out will have international impacts.
Grain prices continue to rally as Russia ramped up attacks on Ukrainian ports on the River Danube. But agricultural economists and markets analysts point out the situation still hasn’t reached a worst-case scenario yet.
According to a new report by USDA, ag imports from Latin America and the Caribbean have increased over the past 12 years, with a compound annual growth rate of 6.9%.
The July Ag Economists’ Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.
The leaders also drafted a proposed legislation earlier this month that promises treaty-like benefits for businesses seeking cross-border investment opportunities via the tax code.
The Kremlin said there was no link between the attack and suspending the deal, which lets Ukraine export grain through the Black Sea. Instead, it occurred over a failure to ease rules for food and fertilizer exports.
This slump, deeper than May’s 7.5% drop, represents the largest decline since February 2020.
During a bilateral meeting on Thursday, U.S. Trade Representative Katherine Tai discussed with Mexico’s Secretary of Economy Tatiana Clouthier various issues concerning energy and biotech corn.
Representatives from the U.S., Mexico and Canada will meet in Cancun, Mexico this week to discuss a series of disputes, including Mexican energy and biotech policies and Canadian dairy barriers.
Beijing on Monday announced export controls on gallium and germanium. Now the Biden administration is set to restrict Chinese companies’ access to U.S. cloud-computing services that use AI chips.
The European Commission proposed revising its rules on genetically modified organisms (GMOs) on Wednesday to loosen some restrictions for plants resulting from newer gene-editing technology.
The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
Mexico reached an agreement with food manufacturers to use only non-GMO corn in tortilla production across the country. The government says it plans to implement new import tariffs on white corn imports.
The U.S. and China have reportedly made “progress” and agreed to stabilize their relationship, but no major breakthroughs were outlined during the two-day meeting between U.S. and China high-ranking officials.
Over the 29 years of free trade, U.S. ag exports to Mexico increased both in terms of volume and value, although there were some years where growth was not positive.
Sluggish exports continue to be the main theme in the grain markets with USDA cutting both old and new crop ending stocks. Arlan Suderman of StoneX Group says the bigger story moving forward might be soft corn demand.
China’s exports to Russia reached a record high in April, amounting to $9.6 billion.
The Ukraine Black Sea grain deal has been extended for two more months, one day before Russia could have quit the pact over obstacles to its grain and fertilizer exports.
“If California were to win this Supreme Court case, there’s nothing stopping the state from saying, for example, you can only sell corn in California if it’s harvested with an electric combine,” says Dillard.