Trade
Will President Trump use an Iowa event to clear up questions about tariff aid?
The U.S. Department of Agriculture says farmers are expected to harvest the largest soybean crop on record, but they have to deal with a constricted market in which to sell their crop.
Today on Farm Journal Live: the latest on the court decision rescinding the label for dicamba from Sonja Begemann and Ken Ferrie and an update on China trade from Senator Chuck Grassley.
Grains receiving good export news. The U.S. Department of Agriculture (USDA) reporting a couple of flash sales on Friday. One includes 163,000 metric tons of soybeans for delivery to Mexico.
Some Trump administration, including USDA Secretary Sonny Perdue, are holding off on the final installment of market facilitation payments (MFP) until they see what happens with the phase one trade deal with China.
Tariffs on soybeans could mean more producers will be switching to corn next year.
Rising household incomes, increasing production and favorable trade policies have led to major growth in U.S. agricultural exports in the past several decades.
President-elect Joe Biden has pledged to work more closely with U.S. allies in confronting China on trade, and is seen as unlikely to roll back his predecessor’s tariffs.
China committed to buying 200 million gallons of ethanol during the first half of 2021. If the commitments turn into shipments, it would mark the largest annual purchase for U.S. ethanol ever.