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Balanced Reporting. Trusted Insights.
Wednesday, October 27, 2021
The USDA keeps a tight lid on the amount of foreign sugar that enters the U.S., and the department is keeping a close eye on whether it will need to allow more into the country if consumer demand increases as the COVID-19 pandemic loosens its grasp on Americans.
U.S. ethanol and corn groups are irate over Brazil's issuance of a 20% tariff on American ethanol following a breakdown in talks between the two countries.
A pair of reports from Department of Agriculture economists project a drop in American grain and oilseed production and overseas stocks on hand, prolonging a bump in commodity prices.
Brazilian President Jair Bolsonaro and U.S. President Donald Trump are both keen on strengthening the ties between their respective countries, but a comprehensive trade pact isn’t likely in the near future because of Democratic opposition, says U.S. Trade Representative Robert Lighthizer.
A new report from the Department of Agriculture reduced the expected corn and soybean production this year, a move that also boosted the government’s expectations for commodity prices.
The U.S. and Brazil have not yet reached a deal on U.S. demands to be able to sell the country more ethanol, but the Brazilian government is making clear what it is demanding in return, according to sources in both countries. Brazil wants more access to the lucrative and tightly guarded U.S. sugar market.
The U.S. and Brazil have agreed to revive for 90 days the expired tariff rate quota that allows some U.S. ethanol to flow to the South American country duty free, the two countries said in a joint statement Friday night.
Former Minnesota Lt. Gov. Michelle Fischbach easily won the GOP nomination to challenge Rep. Collin Peterson this fall, but the House Agriculture Committee chairman starts with a financial advantage.
