Trade
Mizzou’s Ben Brown says the 81.2 million bushels new crop export sale marks the largest week of sales for the 2023/24 marketing year to date and double the previous record weekly volume for the year set last week.
China’s GDP growth could possibly drop lower than the U.S. this year. In fact, fewer and fewer sectors are healthy, and only then by direct government intervention.
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.
Brazil briefly wore the global corn export crown in 2012 because of the U.S. drought. With the ability to churn out three corn crops per year and a supply deal with China, Brazil might be set to maintain that title.
China’s economic woes continue to mount with continued data pointing toward a recession. What does this mean for U.S. ag exports?
“Mexico’s decree, which runs counter to scientific findings and is in direct violation of USMCA, is negatively impacting American corn growers,” said Tom Haag, NCGA president.
Drought is impacting operations along the Panama Canal, one of the largest shipping channels in the world, with restrictions now placed on both the number of ships, as well as the amount of cargo they can carry.
John Phipps says the rapid reduction in farmer numbers is a result of government efforts to raise money, since the government owns the land, and achieve modest economies of scale for added productivity.
The ag port addition is expected to increase exports of DDGS, corn and soybeans by 400,000 metric tons each year.
In Mexico, corn is much more than a food crop—it’s a key part of the country’s heritage, culture and traditions. Mexico argues glyphosate and GMOs are dangerous to human health, and seeks alternative practices.