Rice production in the United States is down 20 percent compared to last year, while futures prices for the commodity are up 30 percent from a year ago. Online source World-Grain reports the drastic reduction largely was the result of reduced planted and harvested area as rice lost acreage mainly to soybeans and cotton. Rice prices were dropping in March …
Korea Submitting Plan to Renegotiate KORUS
South Korea trade officials announced Monday the government will submit a plan to renegotiate the U.S.-Korea Free Trade Agreement (KORUS) to the nation’s National Assembly government body. South Korea’s Trade Minister met with officials from 20 ministries and government regarding KORUS, and the plans to renegotiate the trade agreement. A senior trade official told the Korea Herald newspaper: “We hope …
Ag State Lawmakers Voice Concern Over Possible NAFTA Withdrawal
Ag State lawmakers continue to voice strong concern, even worry, that the U.S. may pull out of the North American Free Trade Agreement (NAFTA), with dire consequences for home-state farmers and ranchers. The latest Department of Agriculture export forecast shows the importance of Canada and Mexico as the U.S.’s second and third-largest markets, respectively, and Secretary Sonny Perdue hails both, …
USGC, NCGA Reiterate Support for KORUS, NAFTA
Leadership from the U.S. Grains Council (USGC) and National Corn Growers Association (NCGA) last week spent time in South Korea and Mexico to talk trade. The two organizations met with customers and government officials during what they call a period of policy uncertainty in the U.S. corn industry’s top markets. Mexico is the top purchaser of U.S. corn, while South …
NAFTA May be Nearing Breaking Point
Forbes speculates that the North American Free Trade Agreement (NAFTA) negotiations may be reaching a breaking point. Little progress has been made in previous talks as the U.S. continues to push a hardline stance that the governments of Canada and Mexico aren’t going to accept. Last week, a government official from Mexico left a meeting with the Trump Administration with …
US Beef Producers Growing Concerned as TPP-11 Agreement Draws Near
The 11 remaining members of the Trans-Pacific Partnership are moving forward with a modified trade agreement, known as the Comprehensive and progressive Agreement for Trans-Pacific Partnership, or the CP-TPP. Officials with the U.S. Meat Export Federation say this updated deal will leave American producers in the dust. Federation economist Erin Borror says market access remains the biggest concern for U.S. …
Crawford Renews Calls to Open Ag Trade with Cuba
Arkansas Representative Rick Crawford is renewing his call to open agricultural trade with Cuba. The Republican says his proposal is an alternative to repealing the Cuban trade embargo, allowing the U.S. to tap into Cuba’s $2 billion agricultural market, according to Politico. Crawford first proposed the bill in January that would cut back restrictions on U.S. financing for agriculture exports, …
South Korea To Hold KORUS Public Hearing
South Korea will hold a second public meeting regarding the U.S.-Korea Free Trade Agreement, known as KORUS. The meeting was announced after the first public meeting was disrupted by angry farmers and livestock breeders, according to the Korea Herald, a Korea-based newspaper. The second public hearing taking place Friday (today) allows Policymakers, trade experts and citizens to take part in …
NAFTA Withdrawal Threat Already Affecting U.S. Trade
Even though the Trump Administration hasn’t followed through on a potential threat to withdraw from the North American Free Trade Agreement (NAFTA), the possibility is already affecting the U.S. Grain Trade. The fifth round of talks wrapped up last week in Mexico, with all sides promising to get the deal done “as soon as possible.” U.S Trade Representative Robert Lighthizer …
Trump Asks Roberts for Raincheck on NAFTA Discussion
President Trump took a trip to visit Republicans on Capitol Hill Tuesday with a focus on finding more votes for the tax-cut bill. However, Senate Ag Committee Chair Pat Roberts took the opportunity to bring up agricultural concern over the NAFTA negotiations. As the president walked out of the meeting, Politico says he asked Roberts, “How are your farmers?” Roberts …