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Shining Light on Farm & Food Policy for 20 Years.
Tuesday, April 23, 2024
A measurement of the state of mind in farm country is at an all-time high as producers report optimism about future financial conditions due to a recent commodity market price rally and another round of direct payments from the Department of Agriculture.
China promised to consider lifting it’s zero-tolerance policy on ractopamine residues in pork and beef as part of the “phase one” trade pact, and the country is making good on that, although more work needs to be done, says USDA Trade Undersecretary Ted McKinney.
The Archer Daniels Midland Company has sold and shipped 20 metric tons of U.S. rice to China, according to the USA Rice Federation and government officials.
The Trump administration is claiming success in the “phase one” trade deal with China with a new report released less than two weeks before the presidential election.
Vice presidential candidates Mike Pence and Kamala Harris drew a clear line Wednesday night on the U.S.-China trade war with Pence conveying a position of strength and Harris decrying the damage done to American farmers and manufacturers.
China’s imports of U.S. agricultural commodities are rising steadily, but the pace is still well below where it needs to be for the Chinese to meet its first-year commitments under the “phase one” trade pact that went into force in February, according to data analyzed by Agri-Pulse.
A World Trade Organization panel ruled Tuesday that the U.S. broke its international commitments by circumventing the WTO dispute system and hitting China in 2018 with tariffs on $234 billion worth of its goods.
The U.S. will be losing one of its staunchest advocates in China for U.S. beef, ethanol and other farm goods in early October. That’s when Ambassador Terry Branstad says he is stepping down from being the top U.S. representative in Beijing.
China has been ramping up its corn and soybean purchases in recent weeks, but USDA's latest trade data show Chinese imports through July this year are still below 2018 levels and are far from the pace needed to meet goals set in the “phase one” trade pact.
The nation’s producers are at their most optimistic since the onset of the COVID-19 pandemic earlier this year based on improved expectations for commodity prices and U.S. agricultural trade.
