Trade
Members of the National Pork Producers Council sent a letter to USTR Katherine Tai about trade with Vietnam. The group says that ASF is impacting the hog herd, but trade barriers are impacting exports.
China is continuing to make big imports of feed grains and pork. Numbers released by China’s Customs Administration Sunday shows the country imported 16% more pork in March.
Some agricultural groups would like the newly-installed U.S. Trade Representative to reconsider some previous trade deals. That includes joining what was formerly known as the Trans Pacific Partnership.
Just this week, USDA confirmed U.S. sorghum shattered records last week, with a total of 33.9 million bushels of purchases. The total smashed the previous record set in August 2020 by 10 million bushels.
Brazilian production of ethanol from corn rose 58% in the newly passed year as dozens of recently built plants in the country’s grain heartland ramped up production.
USTR Katherine Tai on Monday told the European Union’s competition commissioner, Margrethe Vestager, that she has a “strong desire to develop a more positive and productive” trade relationship with the EU.
The maneuvers to try to refloat the mega container ship Ever Given, stranded in the Suez Canal since last Tuesday, have been successful early this Monday.
USDA Secretary Tom Vilsack said a Mexican plan to ban imports of GMO corn would apply to grain used for human food products, not livestock feed, based on a conversation he had with Mexican Agriculture Secretary.
On Thursday, the market closed lower, but prices made a comeback Friday. Joe Vaclavik says despite the trade’s reaction after the purchase were confirmed, this week’s buys create an even better story for corn demand.
The first U.S.-China meeting of the Biden administration got off to a fiery start, with both sides leveling sharp rebukes of the others’ policies in a display that underscored the level of bilateral tension.
Farmers for Free Trade wants to see a full implementation of the Phase One trade agreement. A year into the deal, there are still accountability and compliance issues with China.
The same week U.S., Chinese officials will meet for the first time under the Biden Administration, China made two big corn purchases. Arlan Suderman of StoneX says while it may seem coincidental, the demand is real.
In a unanimous Senate vote on Wednesday, Katharine Tai was confirmed as the next U.S. Trade Representative. The trade expert was confirmed with a vote of 98-0.
While trade is not a headline of the Biden Administration in the first 100 days, it’s not stopping Katherine Tai from making her voice heard. Tai is now waiting full confirmation vote to put her ideas to work.
Congress got a clearer view of President Biden’s trade agenda this week as the Senate Finance Committee questioned Katherine Tai, Biden’s nominee to serve as the United States Trade Representative.
Biden’s USTR nominee was a key player in the USMCA negotiations, and some think USMCA may be a template for future trade talks, including the possibility of rejoining the Trans-Pacific Partnership (TPP).
Trade seems to be taking a back seat in Washington. From COVID-19 recovery to a focus on climate, other issues are taking priority in the new White House. That’s not stopping ag groups from pushing for key trade deals.
Even though official numbers won’t be released until early next week, U.S. Meat Export Federation says a promising finish to beef exports in 2020 could set the stage for record shipments in 2021.
2020 was a banner year for pork exports. U.S. Meat Export Federation (USMEF) will release the final 2020 data early next week, but USMEF’s CEO says the data will confirm record pork exports last year.
China put a record number of corn purchases on the books to end January, but it’s not just China buying. This week, USDA confirmed China bought more corn from the U.S., a sign demand may be strong across the board.
Whether it’s to fulfill Phase One promised, or an increased need for feed, some say the timing of the record Chinese buys isn’t a coincidence. So, what’s driving the record demand from China?
During U.S. Treasury Secretary Janet Yellen’s confirmation hearing in January, Yellen previewed how the Biden administration may address trade issues with China.
China’s appetite for U.S. corn seems unstoppable. Just this week, daily sales of corn to China added up to a new record.
President Joe Biden’s trade team is coming together, and it looks to be stacked with individuals who were key in crafting the U.S. Mexico Canada Agreement (USMCA).
Corn, wheat and soybeans saw a price pop this week on news China made a big purchase of U.S. corn. USDA confirmed China bought 686,000 MT of corn for delivery to China, 371,000 of which was in purchases of old crop.
As China continues to buy U.S. agricultural commodities, the buying pace may be sustainable even if the Phase One agreement is renegotiated. Agricultural leaders and analysts break down why.
Last week John briefly examined the idea of trading less and producing more stuff in the U.S. This week he dives into what that would mean for agriculture.
USDA’s Ag Outlook Forum in February showed an acreage bump, but didn’t acknowledge the Phase One trade agreement. Analysts think that decision was wise, but forecasts buys from China to start showing up soon.
The World Trade Organization (WTO) said on Tuesday that it is suspending all meetings until March 20 after a staff member was confirmed to have coronavirus.
50% of the world’s population now can be considered to be middle class or higher. Could that translate into customers spending more and demanding more U.S. products? John Phipps looks into it in John’s World.