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Shining Light on Farm & Food Policy for 20 Years.
Friday, May 10, 2024
The Trump administration will provide $16 billion in new direct payments and other additional assistance to farmers and ranchers who have been harmed by the ongoing trade war with China and other trade disputes.
The Department of Agriculture projects higher corn ending stocks, which would be the second largest on record behind 2016/17, in this month’s World Agriculture Supply and Demand report.
The World Trade Organization today sided with the U.S. in its complaint that China has not lived up to pledges it made nearly twenty years ago to buy billions of dollars of wheat, rice and corn through tariff rate quotas.
Next week is going to start off with a thud and not an April Fools' Day joke when Japan further lowers tariffs on wheat and barley from Australia, Canada and European Union countries.
Brazil has agreed to lift its ban on U.S. pork and make good on a 24-year-old promise to set up an annual 750,000-metric-ton tariff rate quota to allow in U.S. wheat, according to the leaders of the two countries.
Traders saw very few if any surprises in USDA’s World Agriculture Supply and Demand Report released Friday and will eye weather as the next potential market mover.
The U.S. on Thursday won a key victory at the World Trade Organization to compel China to stop propping up its wheat and rice farmers by maintaining artificially high prices.
USDA economists expect farmers to increase plantings of corn this spring while reducing their soybean production as the Trump administration's ongoing trade war with China remains unsettled. Record amounts of meat and milk production are projected.
The Department of Agriculture drastically increases net farm income projections after releasing the complete list of tables for their upcoming Agricultural Projections Report, expected to be released mid-March.