Exports
USDA offers additional $300 million for export development
A second round of $300 million in funding is available through the Regional Agricultural Promotion Program (RAPP) to encourage U.S. food and agricultural exports to new markets, said Agriculture deputy secretary Xochitl Torres Small on Monday. Allocations are expected to be made by the end of the year.
U.S. inflation fight darkens economic outlook, ag lender says
The Federal Reserve will continue to raise interest rates into 2023, "and the outlook for the coming year grows increasingly gloomy," said agricultural lender CoBank on Monday. The strong dollar "will pressure U.S. exports as the global economy struggles and U.S. goods remain expensive," it said, with warfare in Ukraine injecting additional volatility into world food supplies.
Farm income, at record high, to moderate through 2027 — FAPRI
War in Ukraine and record-large ag exports to China will drive U.S. net farm income to a record $148.3 billion this year, twice as high as five years ago, said the FAPRI think tank on Monday. Income would decline in 2023 and 2024 as commodity prices soften, and then hold steady through 2027.
Ag is sole bright spot in Sino-U.S. trade
So far this year, U.S. exports to China are running at 2021's level and there is little reason to expect improvement in the near term, said analyst Chad Bown of the Peterson Institute for International Economics on Monday. "While agriculture overall remains a U.S. export bright spot in 2022, products like pork, wheat, and corn face new worries," he wrote.
Biden calls for ocean shipping reforms
Despite port congestion in 2021, Ocean carriers made huge profits that are estimated to drive up consumer prices by 1 percent this year, said the White House on Monday. "The president is calling on Congress to pass robust reforms to the ocean shipping industry, including reforms that address the current antitrust immunity for ocean shipping alliances."
A salad, a glass of wine, a bit of time and U.S. will be a food importer
The American preference for fresh foods year-round, often washed down with a glass of wine—or something stronger—will drive a $100 billion increase in food and ag imports in the years ahead, according to the Agriculture Department. It would turn the United States into a net importer of food in the long term and question the proud sentiment in farm country that America feeds the world.
U.S. farm exports to set a record, but not as big as expected
China is buying less U.S. crops and livestock than expected, particularly soybeans, and America's ag exports are feeling the pinch. Sales are forecast at a highest-ever $175.5 billion this fiscal year, said the USDA on Tuesday, but just like the record set last year, the crest was not as high as it looked in the summer.
New approach needed following ‘phase one’ failure, says analyst
China sets monthly record for purchases of U.S. food and ag
EU targets U.S. agriculture and aircraft in airplane dispute
Perdue hopeful China will meet ‘phase one’ trade targets
China has "really stepped up" its purchases of U.S. farm exports in recent weeks, said Agriculture Secretary Sonny Perdue on Monday, and he is hopeful of the sales bonanza promised in the "phase one" agreement that de-escalated the Sino-US trade war. "They are saying... the right things about their desire to fulfill their commitment. I'm hopeful they will."
Beef slumps while pork exports surge
China buys more; will it be enough for ‘phase one’?
Limited initial impact on U.S. ag exports from China deal
Coronavirus will delay sales boom to China, says Kudlow
Grassley says he will blow the whistle if Chinese backslide on trade deal
A deal on USMCA, but final approval will wait until 2020
Farmers support trade war despite their financial losses