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.
Cotton growers have been patient with President Donald Trump’s trade war with China, by far their most important customer. After all, they’ve had their own frustrations with China for years. But cotton growers say that patience is running short as planting season nears.
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.
The fate of the North American Free Trade Agreement remains uncertain and a trade war with China continues to loom heavy over rural America, but the long-term forecast for U.S. soybean exports remains bullish, propped up by optimistic forecasts from the USDA.
You won’t find any tourists in the muddy, mosquito-ridden town of Barcarena in Brazil’s state of Pará, but you can’t miss the almost constant parade of trucks pulling in and out of port facilities under the scorching sun or torrential rainfall on the country’s northern coast.