Imports and Exports
USDA on Thursday lowered expectations for both ag exports and imports in FY 2023. The export decline is linked to corn and wheat, while the import decline is correlated with easing prices.
As the two leaders of the ProFarmer Crop Tour converge, the eastern route and western route tell two very different stories—Chip Flory and Brian Grete are watching the markets with new perspective on crop conditions.
The ag port addition is expected to increase exports of DDGS, corn and soybeans by 400,000 metric tons each year.
According to a new report by USDA, ag imports from Latin America and the Caribbean have increased over the past 12 years, with a compound annual growth rate of 6.9%.
EPA released biofuel blending obligations under the Renewable Fuel Standard on Tuesday. While EPA says the decision will reduce reliance on oil imports, some biofuel industry leaders do not approve.
Exports rose 2.1% in March from the prior month to a seasonally adjusted $256.2 billion while imports declined 0.3% to $320.4 billion, the Commerce Department said.
Mexico must reverse its present course and embrace the technology and trade that helps all Mexicans thrive.
According to researchers at Ohio State University, most U.S. states will experience a “limited effect” of the dispute in the short term. But the long-term could significantly impact states such as Illinois.
Non-tariff barriers “are real and can be more significant hurdles than tariffs,” U.S. Trade Representative Katherine Tai says.
“In this current situation, the traditional approach to free trade agreements — which isn’t just tariff cuts, but that they do tariff cuts on a fully comprehensive basis — isn’t what we need right now,” Tai says.