Trade
China will issue new rules on the management of price indexes for commodities and services, it said on Thursday as the government steps up scrutiny of the country’s commodity markets and battles to contain inflation.
As analysts keep a close eye on rumored soybeans buys from China late last week, China has issued new rules when it comes to monitoring commodity prices as the country battles to contain inflation.
Pork shipments from a North Carolina pork processing plant are now blocked from entering Mexico. The plant located in Tar Heel, N.C., is a Smithfield foods plant and is the largest in the world.
The Renewable Fuels Association (RFA) says China’s buying increased to 48.3 million gallons in March, which is the second largest monthly export total ever on record, just missing the high set in April 2016.
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.