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China to Exempt U.S. Pork, Soybeans from Additional Tariffs -Xinhua
China will exempt some agricultural products from additional tariffs on U.S. goods, including pork and soybeans, China's official Xinhua News Agency said Friday, in the latest sign of easing Sino-U.S. tensions before a new round of talks aimed at curbing a bruising trade war.
The United States and China have both made conciliatory gestures, with China renewing purchases of U.S. farm goods and U.S. President Donald Trump delaying a tariff increase on certain Chinese goods.
China had imposed three rounds of additional tariffs on U.S. pork, including 25% increases in April and July 2018 and a 10% bump this month, raising the total duty from...
USDA Forecasts U.S. Corn and Soybean Production Down from 2018
The Crop Production report issued today by USDA’s National Agricultural Statistics Service (NASS) forecasted soybean and corn production down from 2018. Soybean production is down 19 percent from 2018, forecast at 3.68 billion bushels; corn growers are expected to decrease their production 4 percent from last year, forecast at 13.9 billion bushels.
Area for soybean harvest is forecast at 75.9 million acres with planted area for the nation estimated at 76.7 million acres, down 4 percent from the June estimate, and down 14 percent from last year. Soybean yields are expected to average 48.5 bushels per acre, down 3.1 bushels from last year. If realized, the forecasted yield will be a record high in...
United States-Colombia Trade Promotion Agreement Pays Dividends to American Farmers and Exporters
The United States-Colombia Trade Promotion Agreement (CTPA) entered into force on May 15, 2012, laying the foundation for a surge in U.S. agricultural exports. Since 2012, U.S. agricultural exports to Colombia nearly tripled from $1.1 billion to $2.9 billion in 2018. Despite its geographic proximity to major U.S. competitors Brazil and Argentina, Colombia, the third-largest economy in South America, purchases half of its agricultural imports from the United States. Preferential access from CTPA and a strong Colombian economy have allowed the United States to increase its market share from 19 percent prior to CTPA, to 50 percent in 2018. Changing demographics, a growing middle-class, and consumer trends toward more modern retail outlets is expected to keep demand strong into the future for high-quality U.S. agricultural exports.
Colombian Macro-economic Trends and Changing Demographics
In addition to CPTA, political stability and a dynamic economy have contributed to Colombia becoming the United States’ 12th-largest destination for agricultural exports, up from...
USDA Announces Support for Farmers Impacted by Unjustified Retaliation and Trade Disruption
U.S. Secretary of Agriculture Sonny Perdue today announced that the U.S. Department of Agriculture (USDA) will take several actions to assist farmers in response to trade damage from unjustified retaliation and trade disruption. President Trump directed Secretary Perdue to craft a relief strategy to support American agricultural producers while the Administration continues to work on free, fair, and reciprocal trade deals to open more markets in the long run to help American farmers compete globally. Specifically, the President has authorized USDA to provide up to $16 billion in programs, which is in line with the estimated impacts of unjustified retaliatory tariffs on U.S. agricultural goods and other trade disruptions. These programs will assist agricultural producers while President Trump works to address long-standing...
Grain Futures Soar on Delayed Plantings
In the latest Crop Progress report, planting progress continues at a slower than expected pace—causing concern for traders and seeing corn futures up 12 to 13 cents per bushel Tuesday morning.
The USDA reported corn plantings at 30 percent completion as of Sunday, May 12. That’s less than half of what the normal 5-year average rate is at this point in the season. It’s also only a 7 percent increase from the previous week.
Rain and cool weather in the major production areas has hindered planting activities so far this season.
Emergence is also lower than expected, currently at 10 percent. Last year at this time...
Planting Progress Lags for Corn and Soybeans
In the latest Crop Progress report, the USDA shows corn plantings across the 18 primary production states is currently just 23 percent complete, which is half the normal progress made by this time over the last 5 years.
Planting progress is well-below expectations for this point in the season, having been hindered by rains throughout the Midwest where much of the crop is produced. Every state surveyed has reported lower progress rates than their respective 5-year averages.
Corn emergence is currently at 6 percent, also less than half the average rate. Seven of the 18 production states have yet to report any emerging corn.
Meanwhile, 6 percent of soybeans have been planted so far this season—also...
ARS Study Helps Farmers Weigh the Merits of Soybean Pressing Methods
Results from a joint study by Agricultural Research Service (ARS) and Drexel University (DU) scientists will help farmers better weigh the merits of pressing soybeans on-site rather than transporting their crop to a crush (processing) facility, where the oil and meal can be extracted for sale.
Second only to corn in terms of crop value and total U.S. acres planted, soybeans are the chief source of vegetable oil for cooking and other food uses. Meal left over from pressing the beans is sold as high-protein animal feed. There are also nonfood uses of soy oil, including inks, lubricants, paints and biodiesel fuel.
In some instances, soybean growers are opting to press the oil right on the farm rather than send their beans to a dedicated crush facility. This allows them to ...
Rabobank: Global Food Price Stability in 2019 Threatened by Trade Wars, Disease and El Niño
A “melting pot” of risks – including US trade war with China, disease and extreme weather – threaten global food price stability next year, according to research from Rabobank, the specialist food and agribusiness bank.
In its annual Outlook reports, which analyse the prospects for more than 15 agricultural commodities, meat and seafood, Rabobank says that while the global food price environment remains relatively stable, ongoing geopolitical tension, the threat of El Niño weather system and diseases affecting livestock bring great uncertainty to the outlook for 2019.
Stefan Vogel, head of agri commodity markets at Rabobank and report co-author, said: “The agri commodity price environment may be relatively stable currently, but it’s difficult to remember a time there were so many threats to...
Commodity Leaders Join Forces on Sustainability Research
Pork, Soybean and Corn Sign Memorandum of Understanding on Sustainability Research
The National Pork Board (NPB), United Soybean Board (USB) and National Corn Growers Association (NCGA) announce the signing of a Memorandum of Understanding (MOU) on a sustainability research platform that will benefit all three organizations and their producers. This research program will include the sharing of completed research, coordination on current and planned research and define ways to share and communicate results with each organization’s members.
Leadership from the three commodity groups agree that it is prudent to consider specific ways in which they might work together more effectively to ensure alignment and collaboration in sustainability research and how the results can and will be communicated and shared...
Perdue AgriBusiness Chooses Tradepoint Atlantic for New Organic Grain Facility
Perdue AgriBusiness, a division of Perdue Farms, announced today a $30 million investment to open an organic grain receiving and storage facility at Tradepoint Atlantic in eastern Baltimore County to meet the rising demand for organic feed ingredients for Perdue Foods and other companies in the region. The facility will also include grain and oilseed processing/milling and support more than 25 new jobs.
“Tradepoint Atlantic at the Port of Baltimore is ideally located to receive grain and supply organic customers throughout the Mid-Atlantic region,” said Dick Willey, president, Perdue AgriBusiness. “We work directly with local farmers and traders in the United States, Europe, South America, and Asia to source organic grain and soybeans. This new complex will be a key part of an integrated supply chain that enables us to increase business and reduce the cost while maintaining the quality of our organic products.”
“We’re on a mission to make organic chicken more accessible to more consumers, but the limiting factor is...
Harvest Activities Delayed in Some Areas Due to Recent Rains and Early Snow
A wet Autumn so far in parts of the Midwest, along with some very early snow for the season, has hampered harvest efforts as of late.
According to the latest Crop Progress report, the USDA estimates the corn harvest to be 39 percent complete, which is still ahead of the 5-year average, but the rate has slowed in the last week. States falling behind in harvest activities include Iowa, Minnesota, Pennsylvania, and South Dakota.
The soybean harvest is notably behind schedule, with only 38 percent completed as of October 14. That compares to the 5-year average rate of 53 percent by this time. Iowa, usually 51 percent underway at this point in the season, reports only...
October Harvest Season Ramps Up
The 2018 corn harvest is now 26 percent underway, almost 10 points above the average pace over the last 5 years.
Leading the pack in the latest Crop Progress report is North Carolina, showing harvest activities for corn at 83 percent, while Texas follows up with 70 percent, followed by 65 percent in Missouri.
Looking at top producing states, the Iowa corn harvest is up to 11 percent, while Illinois reports 48 percent, and Nebraska shows 17 percent.
All 18 primary corn production states are...
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