Exports
U.S. says COOL costs Canada and Mexico only $91 million
Canada loses only $43.2 million and Mexico $47.6 million from the U.S. law that requires packages of beef and pork to say where the meat was born, raised and slaughtered.
At TPP, Canada discusses allowing more dairy imports
At the Trans-Pacific Partnership trade talks in Hawaii, "Canada has begun discussions with the United States on allowing more foreign dairy products into the Canadian market – among the thorniest issues for Ottawa" in the negotiations, says the Toronto Globe and Mail.
House sends export inspection, livestock price bills to Senate
In less than half an hour, the House passed on voice votes bills to reauthorize the Grain Standards Act and the mandatory livestock price reporting program, each with significant modifications to prevent disruption of service. The bills now go to the Senate. The Grain Standards bill would require the USDA to step in immediately if there is an interruption of inspection of grain at export terminals, either by dispatching federal inspectors or inspectors from state agencies empowered to conduct the work.
Brazil is poised to expand ag exports, says global report
Brazil, second to the United States in food and agricultural exports, "is poised to become the foremost supplier in meeting additional global demand, mostly originating from Asia," says the OECD-FAO Agricultural Outlook 2015-2024.
Ag panel members help stall fast-track package
President Obama's request for fast-track authority on trade agreements was in limbo after the House voted 302-126 against one of the elements of the package. That's a ratio of more than 2-to-1.
China squeezes out other foreign buyers of U.S. soybeans
More than 1 billion bushels of U.S. soybeans are likely to be shipped to China during the current marketing year, say economists John Newton and Todd Keuthe of U-Illinois, who ask, "Are all our beans in one basket?"
Farm subsidies soar in developing countries, panel hears
Major agricultural countries in the developing world, such as China, India and Brazil, are increasing their farm subsidies and displacing U.S. ag exports on the world market, two trade analysts told the House Agriculture Committee. "The United States, as the biggest agricultural exporter, suffers most from these distortions," said Craig Thorn of DTB Associates. U.S. negotiators have raised the issue at WTO discussions.
Monsanto, growers settle suit over rogue GMO wheat
Monsanto, the giant seed company, settled lawsuits field by wheat growers in seven states over the 2013 discovery of a GMO variety growing in the wild in eastern Oregon.
Sharp drop in poultry exports due to bird flu, stronger dollar
U.S. poultry exports will fall by 8.5 percent this year under the pressure of avian influenza and the stronger dollar, says the Livestock, Dairy and Poultry Outlook. Two major importers of U.S. poultry meat, China and South Korea, have restricted shipments as a precaution against spread of bird flu. The two Asian countries bought 5.5 percent of U.S. poultry exports last year. Their bans reduced U.S. sales by 25.5 million pounds in February, when bird flu was not as widespread as now.
U.S. challenges Indonesia at WTO over food-import barriers
The United States and New Zealand asked the World Trade Organization to rule that Indonesia unfairly restricts imports of fruits, vegetables and animal products, based on regulations imposed in 2012.
EU overtakes U.S. as top global exporter of wheat
The European Union will be the world's largest wheat exporter this year, and by a wide margin, says the USDA report Grain: World Markets and Trade.
Strong dollar impedes U.S. meat exports
The strong U.S. dollar will constrain beef, pork and poultry exports while encouraging imports, the USDA forecast in the monthly WASDE report.
Soybean inventory expected to tighten slightly
Traders expect the USDA to lower by 2 percent its forecast of the U.S. soybean stockpile today in its monthly WASDE report. At the moment, supplies are projected to be the largest in eight years, at 385 million bushels, the result of a record-setting harvest last fall.
Soybean inventory to balloon, corn stocks to contract a bit
The second mammoth soybean crop in two years will swell U.S. supply to its largest size in nine years, says the Agriculture Department in updated projections for this year's crops. The soybean stockpile, forecast for 385 million bushels when this year's crop is mature, is expected to grow by 12 percent, to 430 million bushels, by Sept. 1, 2016, despite record soybean exports, says the USDA. On the final day of its annual Outlook Forum, it projected...
China is top US ag export customer, although purchases dip
China "is expected to remain the largest destination for U.S. agricultural products for the fifth consecutive year" even though its purchases will drop by $2 billion, to $23.6 billion, this year, said the USDA's chief economist Robert Johansson at the Outlook Forum. China buys nearly one-fifth of U.S. farm exports. Canada is the No. 2 market at $21.8 billion, and Mexico is third at $18.7 billion, followed by Japan and Europe.
USDA data-fest highlights early crop projections
The USDA's annual Outlook Forum traditionally generates headlines with its projections of U.S. crop production seven months before harvest, a challenging exercise considering the many factors that could intervene. A late-winter surge in commodity prices could sway planting decisions, a cold and rainy spring can force last-minute changes among crops, and a summer drought can destroy crop prospects.
U.S. challenges China over export subsidies
The United States initiated consultations at the World Trade Organization over China's export subsidy system, announced U.S. Trade Representative Michael Froman. Consultations are the first step at WTO.
U.S. ag sales to Cuba are smallest in 12 years
U.S. food and agricultural exports to Cuba totaled $291 million in 2014, the smallest tally since 2003, said the U.S.-Cuba Trade and Economic Council, which monitors trade flows.
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.