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AgDay Daily Recap -January 1, 2014

January 1, 2014
 
 

TODAY ON AGDAY

JANUARY 1, 2014

 

USB SPECIAL

TOUR:

GOOD MORNING I'M TYNE MORGAN. AS DYNAMIC WORLD MARKETS CAN SHIFT U-S GRAIN AND OILSEED FUTURES ON ANY GIVEN DAY, MORE ATTENTION IS ON NEW AND GROWING MARKETS. AND TODAY WE'LL GET A GLOBAL VIEW OF THE POWER OF THE U-S BEAN IN THIS SPECIAL EDITION OF AGDAY.

PANAMA CANAL:

THE PANAMA CANAL IS AN IMPOARTANT GLOBAL SHIPPING ARTERY. THE CANAL SERVES OTHER COUNTRIES, BUT IS VITAL TO THE U-S, AS THREE OUT OF EVER TEN BUSHELS OF GRAIN AND SOYBEAN EXPORTS GOES THROUGH THAT CANAL.  IT'S THE LINK BETWEEN THE CARRIBEAN AND PACIFIC OCEANS, SAVING VESSELS TIME AND MONEY BY ALLOWING THEM TO CUT THROUGH, VERSUS GOING AROUND THE CONTINENT. AND FOR MIKE STEENHOOK, EXECUTIVE DIRECTOR FOR THE SOY TRANSPORTATION COALITION, THAT CANAL IS THE STANDARD TO WHICH HE HOLDS ALL U-S LOCKS, DAMS AND PORTS.

COLOMBIA FTA:

ONE MAJOR ROLE OF UNITED STATES SOYBEAN EXPORT COUNCIL IS TO HELP CREATE RELATIONSHIPS TO STRENGTHEN INTERNATIONAL TRADE.  AN AGREEMENETS RECENTLY PUT INTO PLACE IS THE US-COLOMBIA TRADE PROMOTION AGREEMENT, MORE COMMONLY KNOWN AS THE COLOMBIA FREE TRADE AGREEMENT. WHILE IT WAS SIGNED IN 2006, IT DIDN'T GO INTO EFFECT UNTIL MAY 2012. UNDER THE AGREEMENT, MORE THAN 80 PERCENT OF U-S EXPORTS, INCLUDING AGRICULTURAL GOODS, ARE DUTY FREE.

BOGATA:

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