Snow and bitter cold damaged the citrus crop in Texas, slowed meat production in the Plains, and threatened to snarl grain exports through the Gulf of Mexico. Some traders have claimed force majeure because of ice and cold weather in Houston and New Orleans, reported AgriCensus
The House gave final congressional approval to the Grain Standards Reauthorization Act on a voice vote on Wednesday and sent the bill to the White House for President Trump's signature.
Exporters sold nearly 2.7 million tonnes of U.S. soybeans in the first half of this month for delivery to China, said the USDA on Thursday. A "significant" sale was reported on each of the 10 business days beginning on Sept. 3, said the Foreign Agricultural Service.
With President Trump ready to impose trade sanctions on China for hijacking U.S. technology, his chief agricultural negotiator told a farm conference that the administration is defending agriculture, too.
The United States rebounded to its longtime spot as the world’s largest wheat exporter last year, but Russia will be No. 1 by a long shot in the 2017/18 marketing year, says the monthly Grain: World Markets and Trade report.
U.S. farmers lost as much as $3.5 billion in corn, wheat and rice sales to China last year because the world's most populous nation used its tariff system to unfairly limit imports, the Obama administration said in a complaint to the World Trade Organization. Separately, the U.S. asked WTO to appoint a dispute panel to investigate its complaint of excessive Chinese subsidies of corn, wheat and rice.
The mammoth U.S. grain harvest and reduced competition from South America will set the stage for a rapid increase in exports over the next six months, the chief executive of ADM told analysts. Agrimoney quoted ADM leader Juan Luciano as saying, "Demand continues to be strong and the United States is competitive now for the future months."