Corn Prices Reach Near-Decade High, Wheat Forecast Falls
Demand for corn from the U.S., Brazil and Argentina soared in the past weeks as the war in Ukraine escalated. China ramped up its purchase of U.S. corn earlier this month.
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trade
Farm Bureau Among Groups Who Call for Tariff Relief
The trade groups indirectly acknowledged that China has not met all of its purchasing commitments but encouraged the administration to negotiate over issues not included in Phase One.
Read moreSpread of Virus Further Jams Freight in China
Amid a surge in COVID cases, ports issued notices suspending vessels from entering ports without reservations. The ports are only accepting bookings for export-bound containers.
Read moreChina Faces Tougher Rules in Europe
The regulation would help address rising European concerns that Chinese businesses, bolstered by state support, are competing unfairly around the world.
Read moreAg Groups React to Trade Rep Confirmation
New trade chief brings experience on China at a time when stakes are especially high.
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Container Woes: ‘Busiest Period in Trade-Ever’
Group says top-dollar rates for declining service levels cannot continue. Container companies blame some bottlenecks on North American infrastructure.
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Shipping Carriers Reject Tons of Ag Exports
Shipping carriers rejected U.S. agricultural export containers worth hundreds of millions of dollars during October and November. The Federal Maritime Commission is investigating whether carriers violated the Shipping Act.
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Shipping Containers for Ag in Short Supply
U.S. retail demand for imports has pushed container freight rates from China to the U.S. West Coast beyond $4,000 per container. Meanwhile, the average price to ship goods by container from Los Angeles to Shanghai has been $518. That’s creating a pinch for farm exports.
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Success of Tariffs an Unanswered Question
President Trump’s trade war against China did not reverse a U.S. decline in manufacturing, economic data show. Administration officials point out nonetheless that the tariffs have succeeded in forcing China to agree to a phase one trade deal.
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U.S. China Officials Remain Committed to Phase One
The primary significance of the talks is that they occurred at all, said trade experts, given the deepening divides between the two nations.
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Manufacturers Move Away from China Supply Chain
One third of companies with global supply chains have moved–or soon will move–their sourcing and manufacturing activities out of China.
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U.S. Soybean Prices Rise as China Accelerates Imports
Chinese buying made up roughly 56 percent of all new soybean export sales in the past month. By comparison, Chinese buying made up only 27 percent of U.S. soybean export sales in 2020 through May.
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China Still Expected to Dial Up Soy Purchases
China’s hog herd is recovering well from African swine fever. The country is expected to accelerate soybean purchases from the U.S. between May and August.
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Trade with China: Leaders Stay Focused on Phase One
Trade leaders for U.S. and China stay focused on deal amid global pandemic.
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Virus Puts Pressure on Farm Equipment Supply Chain
Executives say they are taking measures that include tying up sources outside China and booking air freight to fly in parts and components from China. One said its company is paying 40 percent more to domestic vendors for components that used to come from China.
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U.S., China, Take First Steps After Phase One Deal
The U.S. and China took the first steps last week in implementing a trade deal that ultimately could generate an additional $32 billion in agriculture exports to China.
Read moreU.S. Trade Deal with UK on Fast Track
The United States wants to conclude a trade deal with the United Kingdom this year.
Read moreTrade Progress: China Deal, USMCA Advance
President Trump welcomes Chinese officials to D.C. this week to sign the recently negotiated phase-one trade deal with China. Final approval is expected as early as this week on USMCA.
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Dairy Industry Struggles
The state of Wisconsin lost 10 percent of its dairy farms in 2019. In related news, a second major milk producer filed for bankruptcy recently.
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Iowa, Illinois Surpass Billion-Dollar Mark in Trade Aid
USDA’s Farm Service Agency has paid out nearly $11 billion in 2019, with Iowa, Illinois, and Minnesota receiving the most.
Read moreDone Deal: U.S., China Reach Phase One Agreement
A phase-one trade deal stipulates China buy $200 billion worth of U.S. goods and services, which includes $40 to $50 billion worth of agriculture products.
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Pork Producers Put Dollars to Potential in China
U.S. pork producers see a potential $24.5 billion annual market in China within 10 years if the Trump administration can gain unrestricted trade access after the Asian country’s hog herd has been devastated by disease.
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Ahoy, Soy: Beans Arrive on China’s Shore
American soybeans that were once stranded on ships along China’s coast are now coming ashore. The beans were stranded because although a 30 percent retaliatory tariff had been waived, buyers still had to pay a deposit.
Read moreChina Deal (and Tariff Deadline) Are Close
President Trump told reporters Monday that China wants to find common ground in trade negotiations. Kellyanne Conway, a senior adviser to Trump, said a trade deal with China is possible by year’s end. New tariffs are scheduled to take effect Dec. 15.
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USMCA Pact Nears Finish Line
It is down to the details in passing USMCA. A coalition to which the Association belongs says the agreement pays unprecedented attention to small businesses and boosts opportunities for ag.
Read moreDeal Expands U.S. Rice Market in South Korea
The White House has struck a deal with South Korea that offers steadier access to the Korean market for U.S. rice growers.
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China Lifts Ban on U.S. Chicken, Opens Market Amid Pork Shortage
The opportunity to fill China’s pork gap with chicken has U.S. poultry executives salivating. China has lifted a ban put in place after the avian flu outbreak in 2015. With the country losing much of its swine herd, it is hungry for protein and importing chicken again.
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Uncertainty Lingers Over Pact with China
President Donald Trump said that the U.S. hasn’t agreed to roll back all tariffs on China, muddying hopes raised by China and even some of the president’s own aides that the U.S. was ready to lift some tariffs to secure a trade deal.
Read moreChina Buys Ag Products of ‘Considerable Scale’
Chinese buyers have “completed deals to buy soybeans and pork of considerable scale.” Negotiators are due to resume talks this month in Washington.
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China Admits It’s Been Sanctioning U.S. Soybeans
China newswire Xinhua revealed something interesting. It said Beijing “will allow Chinese businesses to purchase a certain amount of soybeans and pork from the United States.” The word “allow” is key.
Read moreIron Ore Prices Plunge
Iron-ore prices posted their biggest one-month fall in almost eight years. The price fell 27 percent by the end of August, the most since October 2011.
Read moreAmerica’s Loss is Canada’s Gain in Lobster Market
U.S. lobster exports to China have fallen off a cliff this year as retaliatory tariffs shift the seafood business north.
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U.S. Reaches Trade Deal with Japan
The agreement in principle represents significant opportunities for pork producers. President Trump also predicts stronger markets for corn and wheat.
Read moreSecretary Perdue Statement on Japan Agreement
U.S. Secretary of Agriculture Sonny Perdue issued the following statement regarding the new trade agreement between the United States and
Read moreU.S. Trade Deal with Japan Possible This Month
White House economic adviser Larry Kudlow said Friday that the U.S. could reach a trade deal with Japan by the
Read moreAg Talks Progress, Trump Turns Up Heat on China
President Donald Trump said Sunday that tariffs on $200 billion of Chinese goods will increase to 25 percent on Friday,
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Both Parties Seek Change Before Ratifying USMCA
Senate Finance Chairman Chuck Grassley and five other leading Republican senators went to the White House last week to level
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Canada to Impose Tariffs on U.S. Products
Canada is threatening new retaliatory tariffs on more U.S. exports if the U.S. tariffs on Canadian steel and aluminum are
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