U.S. President Donald Trump said he was considering terminating some trade ties with China, singling out cooking oil even though traders and analysts said such shipments have already spent the past year plummeting.
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Agri-Pulse's Noah Wicks reported that "water levels in parts of the Ohio and Mississippi rivers are likely to reach critically low stages soon, forcing shippers to light-load harvest-season grain barges for the fourth year in a row."
"Readings on the Ohio River at Cairo, Illinois, have already fallen below that gauge's 'low threshold,' while those on the Mississippi River at Memphis, are projected to do so by Tuesday," Wicks reported. "With harvest season already underway, agricultural shippers are being forced to load their barges lighter due to the threat of low water conditions developing in coming weeks. 'We've had low water levels for four years in a row now,' said Mike Seyfert, president and CEO of the National Grain and Feed Association. 'What I would say is, it certainly doesn't make things easier.'"
Chinese importers kept up a hectic pace of Argentine soybean purchases after the South American supplier's move to abolish export taxes temporarily made its prices competitive, traders said on Wednesday.
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Close to half of all U.S. corn, soybeans and wheat exports move through the Mississippi River system, making it one of the most important export corridors in the world. Over the past five years, an average of 65 million metric tons of bulk agricultural product traveled by barge to terminals near New Orleans, where shipments were loaded onto ocean vessels bound for global customers. This inland waterway remains the most cost-effective way to connect Midwestern farms to foreign markets, ensuring U.S. agriculture can compete on price and reliability.
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For the first time since at least the 1990s, China hasn’t bought any U.S. soybeans at the start of the export season, a sign that Beijing is once again using agriculture as leverage in its trade fight with Washington.
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An ag economist at Ohio State University says the ag trade deficit reached its peak in July and it’s spurring concerns about the future of U.S. ag exports.
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in August, the U.S. Grains & BioProducts Council (USGBC) welcomed a team of 11 Mexican grain importers to New Orleans to offer a better understanding of U.S. grain export procedures, regulatory frameworks, logistics and operations in maritime shipping.
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Agricultural trade plays a vital role in the American economy. It supports U.S. farmers while driving economic growth and job creation across the country. With more than 20% of U.S. agricultural production sold abroad, exports are a key part of this picture. On average, every dollar of agricultural exports generates $2.06 in additional economic activity within the United States.
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Agricultural markets maintain remarkable stability despite recent heat waves that stirred memories of past crop disasters. Investors across Wall Street to Main Street appear content with current conditions as volatility indexes reach year-long lows ahead of critical Federal Reserve announcements.
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The global rice market in the last two years has been a rollercoaster driven mostly by India’s export restrictions and, since October of last year, by its massive rice crop. India’s production performance has been remarkable, breaking a new production record every year for the last ten years.
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This week, more than two dozen industry leaders representing the rice farmer, merchant, and milling sectors traveled here to meet with Washington trade experts, hear policy updates, and advocate for leveling the global playing field on trade.
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The Secretary of Agriculture says it’s a new day for trade negotiations in America.
USDA’s Brooke Rollins says members of the Trump administration have been working around the clock to finalize new trade deals. “What normally would take 2 years to reach a trade agreement, we’re doing in the course of 30, 60, and 90 days,” she says.
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Today, the National Cattlemen’s Beef Association (NCBA) announced support for President Donald Trump’s trade agreement-in-principle with the United Kingdom (U.K.). Most importantly, the agreement includes market access for beef. This announcement follows years of NCBA’s hard work building the foundation for a trade deal with the U.K., including numerous meetings with British industry stakeholders, Members of Parliament, the British Embassy, the U.K. Department for Environment, Food and Rural Affairs, and other top British authorities.
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American Farm Bureau Federation President Zippy Duvall commented today on the announced trade deal between the United States and the United Kingdom.
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While 56% of farmers say they believe the ongoing trade disputes with China and other countries will hurt them financially this year, 70% say they believe the U.S. and agriculture specifically will benefit in the long-term. Willing to endure short-term pain for long-term gain might best describe U.S. farmers’ current sentiment regarding ongoing trade and tariff troubles with China and other countries.
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