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Shining Light on Farm & Food Policy for 20 Years.
Friday, April 19, 2024
For many grain elevators in the Dakotas and surrounding states, the soybean superhighway sending the oilseed to export markets via the Pacific Northwest might as well be a cul-de-sac.
The soybean market in the coming weeks will be focused on China and how it handles its massive demand for the oilseed while at the same time avoiding U.S. supplies facing a 25 percent tariff in the ongoing trade war with the Trump administration.
In Creighton University's Rural Main Street Index for October, bankers report a growing economy overall in the nation's heartland but a lagging, tariff-encumbered farm sector.
Trade policy uncertainty following U.S. imposition of import tariffs and retaliation by China and other trading partners has forced International Monetary Fund economists to adopt a more pessimistic outlook for growth in the global economy.
The Trump administration today announced it is levying new tariffs on $200 billion worth of Chinese goods, escalating a trade war between the two countries that has hit the U.S. agriculture sector especially hard thanks to Chinese retaliation.
The Department of Agriculture may have addressed many of the lingering questions about its trade assistance package with a Monday announcement detailing many of the relevant figures, but inquiring producers are still wondering how many aspects of the plan will be sorted out.
There are some similarities and some notable differences between the current 'trade war' with China and the Soviet Grain embargo, according to economists.
The USDA appears to be on track to unveil on Friday details of a $12 billion assistance plan for farmers hurt by the international blowback from President Donald Trump’s trade battles with China, Mexico, the European Union, Turkey and elsewhere.
China’s Commerce Ministry announced today it will soon be sending a trade delegation to the U.S. ahead of an escalation in tariffs, many of which are taking a toll on U.S. agriculture exports.
