Trade
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.
“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,” Dillard says.
This blog summarizes the 60-plus year history of the European’s Common Agricultural Policy, from its launch as a system set up to protect producers in six European countries to today’s 27-member EU exporting behemoth.
In April 2017, Ray Starling, Special Assistant to the President for Ag, Trade and Food Assistance during the Trump administration, received some important news. What happened next helped change the course of history.
According to researchers at Ohio State University, most U.S. states will experience a “limited effect” of the dispute in the short term. But the long-term could significantly impact states such as Illinois.
Non-tariff barriers “are real and can be more significant hurdles than tariffs,” U.S. Trade Representative Katherine Tai says.
While Tai has faced strong criticism about a lack of new trade agreements being pursued, she claimed this week that the U.S. is “nearing a consensus on the need to do things differently.”
The Office of the U.S. Trade Representative’s latest report shows top U.S. wheat importers could see a shake-up if trade barriers aren’t addressed.
Iowa Senator encourages U.S. Trade Representative Katherine Tai to move toward instituting USMCA dispute settlement process.
Former President Donald Trump placed tariffs on more than $300 billion in Chinese goods during his presidency, raising costs for American companies, according to the ITC.
ASA CEO: Renewable Diesel Could Drive a New Era for Soybean Demand, But EPA Needs to Rethink the RFS
ASA policy priorities during Commodity Classic focus on everything from the Farm Bill to EPA’s recent Renewable Fuels Standard (RFS) proposal, while also pushing for increased market access through trade.
Russia badly needs to replace expended and outdated Soviet arms while China needs Russian energy. That is compelling math. This is bad news not just for the heroic people of Ukraine, but Europe and the US.
By requesting consultations, the U.S. Trade Representative began a process to come to a settlement on ag biotechnology imports to Mexico. If a settlement is not reached, the issue will move to a full-blown trade dispute.
“When Ukraine fails, in terms of their ability to produce agricultural products, the world becomes less safe,” says Howard Buffett, global philanthropist and Illinois farmer.
Russia is now saying it will only extend its Black Sea grain deal if sanctions are lifted on its own agricultural products. The deal, which was brokered last year, allowed for safe passage of Ukrainian ag products.
Morocco is sitting on 75-85% of proven global phosphate reserves, but projections of phosphate depletion span from 50 to 300 years. John Phipps explains why the concerns about peak phosphate production may be overblown.
Mexico is accusing the U.S. of playing politics over the GMO corn issue, but NCGA CEO Neil Caskey says if Mexico wants non-GMO, they’ll need to pay a premium for it instead of violating a trade pact already in place.
“In this current situation, the traditional approach to free trade agreements — which isn’t just tariff cuts, but that they do tariff cuts on a fully comprehensive basis — isn’t what we need right now,” Tai says.
A year ago, Russia’s invasion of Ukraine injected uncertainty about global grain supplies into the market. Today, initial concerns have been squashed by the reality of record exports from the Black Sea Region.
The U.S. appears to be pursuing a case via USMCA on the matter: “That is going to happen, because we’re essentially in a circumstance where this is not a situation that lends itself to a compromise,” Vilsack said.
Despite weather trends, planting projections for 2023 find corn, wheat and soybeans similar to 2022, for a combined 228 million acres—a 3% increase from 2022.
Is the Biden Administration’s trade agenda finally making some progress? Farm groups are hopeful after key appointments are confirmed and some recent success stories on the trade front.