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Shining Light on Farm & Food Policy for 20 Years.
Friday, May 10, 2024
President Donald Trump on Sunday confirmed that the U.S. and Japan have reached a preliminary deal to lower Japanese tariffs and increase market share for U.S. agricultural commodities. The deal, as reported Saturday by Agri-Pulse, is already being lauded as a success for farmers by major U.S. ag groups.
A Japanese delegation is coming to Washington next week to resume negotiations on a free trade agreement, U.S. Trade Representative Robert Lighthizer told Agri-Pulse Friday.
The Agriculture Department overhauled its Market Facilitation Program to broaden the number of farmers that would receive the trade aid, but officials may encounter new grumbling over the wide disparities in county payment rates.
By the end of the year, China is finally expected to implement the quotas for corn, wheat and rice as it agreed to do about 20 years ago, but it may not be a cause for celebration for American farmers.
July reports from the Department of Agriculture offered little surprise to traders, including when USDA stuck with the much-maligned June Acreage report data.
Grain traders are still unsure of actual planted cropland after USDA dropped planted corn acres estimates by just over 1 million in its June Acreage report Friday. Many traders find that difficult to believe after farmers in the eastern Corn Belt struggled to plant a crop this spring.
Just days after dropping steel and aluminum tariffs on Mexico and Canada, President Donald Trump is threatening to reinstate new tariffs on all Mexican goods.
USDA's Economic Research Service cited trade tensions, African Swine Fever, and weak commodity prices in trimming its export sales forecast for fiscal 2019 by $4.5 billion.
