A state-controlled bank in Brazil has cut credit lines to meat processor JBS SA, following the plea bargain deal in which the company’s majority owner admitted paying bribes to Brazilian politicians. Meat industry publication Meatingplace reports the bank decided to review the conditions of JBS’ credit limit, and of a loan expiring in 2018. Reuters previously reported that the Brazilian …
Secretary Perdue to Testify Before Senate Ag Appropriations Subcommittee
Agriculture Secretary Sonny Perdue will give testimony to the Senate Agriculture Appropriations Subcommittee Tuesday. The subcommittee will hold a hearing on President Donald Trump’s proposed budget for the fiscal year 2018. Agriculture Secretary Sonny Perdue, Michel Young, the Department of Agriculture budget officer who is also acting deputy secretary, and Robert Johansson, USDA’s chief economist, are scheduled to testify, according …
Pace of Young, Beginning and Small Farmer Loans Slowing
In 2016, the pace of new lending to Young, Beginning and Small Farmers, or YBS loans, remained relatively flat, according to a new report by the Farm Credit Administration. Regarding dollar volume, the pace of these loans slightly exceeded the pace of overall farm lending by Farm Credit System institutions. In terms of loan numbers, the pace of YBS lending …
EU Seeks to Expand Trade with Mexico
The European Union is seeking to expand its trade relationship with Mexico. Under the current trade agreement between the EU and Mexico, the EU’s most active trading sectors with Mexico are machinery and car parts. The current agreement was implemented in 2000. Politico reports that a renewed deal would also be a response to Trump’s aggressive trade stance against Mexico. …
U.S. Ag Machinery Industry Says NAFTA Could Use Changes
New surveys by the Association of Equipment Manufacturers and the Equipment Dealers Association show modest satisfaction with the current North American Free Trade Agreement (NAFTA), but a suggestion that there is room for improvement. Survey results revealed that 36 percent of equipment dealers and 59 percent of manufacturers are largely satisfied with the existing terms of NAFTA, but that some …
USDA Releases Latest WASDE Report
The U.S. Department of Agriculture’s latest World Agriculture Supply and Demand Estimates report released Friday offered no changes to U.S. corn ending stocks and increased the ending stocks estimate for soybeans. USDA increased soybean ending stocks for new crop soybeans to 495 million bushels, up from 480 million last month, and left new-crop corn ending stocks unchanged at 2.1 billion …
Agri View: Talk Continues on Effects of the Wall
Everett Griner talks about how the wall will affect agriculture in today’s Agri View. Well, talk continues about the wall. What is it going to cost? Estimates range from 8 billion to 25 billion dollars. Whatever the cost, constructing that wall is not the only thing that generates financial repercussions. Trade, especially farm trade. Sale of farm …
Weekly Livestock Market Report
Here are the Alabama and Georgia livestock market reports for the week ending June 9th, compiled by the Livestock Market News Service for both states. AL Livestock Market Report: At Alabama Livestock Auctions for the week ended June 9, 2017, receipts at 21 markets totaled an estimated 11,300 head compared to 10,974 last week and 11,801 a year ago. …
Scott Gets Dike Money in Economic Development Bill
Jim Turner News Service of Florida Visit Florida will get a boost in marketing dollars from the amount lawmakers approved last month. Gov. Rick Scott will get $85 million to distribute — through a new fund — to help regional infrastructure projects aimed at economic-development. And as part of a bill approved Friday at the end of the three-day special …
“ Cotton Day ” Tour Promotes U.S. Industry Overseas
Cotton Council International (CCI) recently celebrated its first China “Cotton Day” in Beijing, positioning U.S. cotton as the fiber of choice for today’s sustainability-conscious Chinese hospitality industry. Bruce Atherley, Executive Director of Cotton Council International, talks about the “Cotton Day” tour and what it brings to overseas customers of U.S. cotton. Sponsored ContentFlorida Cattle Enhancement Board Helps to Support Forage …