China has agreed to increase its imports of American agriculture and energy products and to address U.S. concerns about protection of intellectual property, according to a joint U.S.-China statement released by the White House.
China’s decision to scrap its anti-dumping and countervailing duty cases and a 179 percent tariff on U.S. sorghum has energized U.S. industry officials who hope it’s a sign that U.S.-Chinese trade relations are improving.
Until recently, the top negotiators for the U.S., Mexico and Canada were working “intensely” to finish up a deal for a new North American Free Trade Agreement, but activity has dwindled to a near standstill and pessimism has replaced those high hopes for a speedy conclusion.
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.
Poultry giant Pilgrim’s Pride this week posted earnings of $119.4 million for the first quarter of 2018, up from $93.9 million in the same period in 2017, a 27 percent increase driven by increased consumer demand for chicken in the U.S., Mexico and Europe.
House GOP leaders hope to pass a farm bill this week over likely unified Democratic opposition, but Republicans head into the debate divided over critical amendments on sugar policy, crop insurance and other issues.
The U.S. Department of Agriculture is predicting production declines this year for corn and soybeans, the nation’s two most valuable crops, while the all-wheat harvest is expected to jump by 5 percent.
Nestlé is paying Starbucks $7.15 billion for the right to sell the chain’s coffee beans and drinks in groceries and other outlets around the world, a business that Starbucks says generated annual sales of $2 billion.
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.