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.

Unless the U.S. and Japan move quickly in promised trade talks, American wheat farmers stand to take significant hits in exports thanks to the swiftly approaching start of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The biotech portion of the U.S.-Mexico-Canada Agreement is just one example of several new ag provisions that were added during the overhaul of the North American Free Trade Agreement – NAFTA 2.0 as some are calling it - over the past year of negotiations.