China intends “to buy a lot of farm product,” said President Trump on Tuesday, describing “a very, very productive call” between U.S. and Chinese trade negotiators. At the same time, the White House announced it would delay 10 percent tariffs on electronics such as cell …
The world market for soybeans nearly doubled in a 10-year span, growing at an average 7.5 million tonnes a year through 2018, say USDA analysts in the monthly Oilseeds: World Markets and Trade report. But the go-go days of growth may be over, due to retrenchment in China, the dominant buyer. …
Nearly 1 of every 4 pounds of U.S. red meat and poultry exports goes to Mexico, the overall top customer of U.S. food and agriculture exports, says the USDA. Mexico was the destination for 24 percent of beef, pork, mutton, broilers and turkey exports in 2018, nearly double the 13 percent market …
During a day trip to North Carolina, Agriculture Secretary Sonny Perdue was thanked on Monday for the billions of dollars the Trump administration is sending to farmers to mitigate the impact of trade war with China. But he was also prodded for a resumption in exports.
Large domestic hog production and low market prices will propel a larger share of U.S. pork onto the world market in 2019, according to USDA economists. In the monthly Livestock, Dairy and Poultry Outlook, they estimate more than 23 percent of pork production will be exported, up from 22.7 percent this year.
U.S. Trade Representative Robert Lighthizer told senators on Thursday that “hopefully, we are in the finishing stages” of negotiating the new NAFTA. At the same time, he said Japan is balking at writing a trade agreement with the United States and the administration has yet to start talks with other Pacific Rim nations as an alternative to the Trans-Pacific Partnership.
China's plan to move to a 10 percent blend of ethanol into its gasoline supply will be a boon for U.S. ethanol exports, said ADM chief executive Juan Luciano. Agrimoney says that Luciano told investors that China could need imports of 8 million tons a year by 2020 to satisfy the E10 target because of the nation's longer-term fuel strategy.
Agriculture Secretary Sonny Perdue listed Canada's controls over dairy and poultry imports during a Fox Business interview in saying "some of the things left out of NAFTA" give Canada an unfair advantage in ag trade. At the White House, President Trump said, "It's possible we won't be able to make a deal" and the United States would seek a bilateral pact with Canada or Mexico.
Commodity prices are still in a trough but U.S. farm income is on the rise for the first time since 2013 because producers are sending more crops and livestock to market than initially expected, said the USDA. It forecast net cash farm income, a measure of liquidity, of $100.4 billion this year, far stronger than the February forecast of $93.5 billion, but only three-fourths of the record set in 2013.
In the three-way race for leadership in the world wheat market, Russia will be No. 1 in the current marketing year, says USDA's Grain: World Markets and Trade report. It's the first time Russia would take the top spot; the United States was No. 1 in 2016/17 and the EU led in 2015/16.