Trade
During a bilateral meeting on Thursday, U.S. Trade Representative Katherine Tai discussed with Mexico’s Secretary of Economy Tatiana Clouthier various issues concerning energy and biotech corn.
Representatives from the U.S., Mexico and Canada will meet in Cancun, Mexico this week to discuss a series of disputes, including Mexican energy and biotech policies and Canadian dairy barriers.
Beijing on Monday announced export controls on gallium and germanium. Now the Biden administration is set to restrict Chinese companies’ access to U.S. cloud-computing services that use AI chips.
The European Commission proposed revising its rules on genetically modified organisms (GMOs) on Wednesday to loosen some restrictions for plants resulting from newer gene-editing technology.
The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
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Mexico reached an agreement with food manufacturers to use only non-GMO corn in tortilla production across the country. The government says it plans to implement new import tariffs on white corn imports.
The U.S. and China have reportedly made “progress” and agreed to stabilize their relationship, but no major breakthroughs were outlined during the two-day meeting between U.S. and China high-ranking officials.
Over the 29 years of free trade, U.S. ag exports to Mexico increased both in terms of volume and value, although there were some years where growth was not positive.
Sluggish exports continue to be the main theme in the grain markets with USDA cutting both old and new crop ending stocks. Arlan Suderman of StoneX Group says the bigger story moving forward might be soft corn demand.