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Tag Archives: exports

USTR: ‘HIGH-STANDARD’ #NAFTA AGREEMENT SOUGHT

United States Trade Representative Robert Lighthizer said the administration plans to move quickly on renegotiating NAFTA, seeking a “high-standard agreement” with Mexico and Canada, and aggressive enforcement of trade deals. He testified before the Senate Committee on Finance Wednesday. Negotiations can begin as soon as Aug. 16. (FarmWeekNow.com)

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AG MINISTERS TALK #NAFTA

The U.S., Canada and Mexico have “relatively few” differences on agricultural trade, the three countries’ agriculture ministers said after a meeting Tuesday to discuss NAFTA. “We’ve come together to acknowledge that by and large, NAFTA has been a favorable agreement for our three sectors in all three countries from an agricultural perspective. That is the… read more

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#CHINA OK’s IMPORTS OF TWO #GMO PRODUCTS

China approved imports of two new varieties of GMO crops, clearing the way for U.S. ag companies to market new biotech seeds to farmers. The decision affects GE corn and soybean varieties developed by Dow Chemical and Monsanto, and comes after China agreed to speed reviews of biotech applications as a part of the trade… read more

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#CHINA DEAL GOOD FOR #BEEF EXPORTS; VOLATILITY REMAINS

The U.S. and China finalized protocol to allow American beef into China for the first time since 2003. Shipments will resume by July 16 at the latest. Meanwhile, beef supplies are short in advance of Independence Day, and production margins have swung to profitable levels. But extreme volatility in the cattle market still concerns the… read more

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ARGENTINA EXPORTS RISE

Argentina’s crop exports surged $2 billion in the last three weeks of 2015 after restrictions were scrapped by the new president, according to Bloomberg News.

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ARGENTINA UPDATE

Argentina will announce later today a much anticipated relaxation of currency controls on Wednesday, the government said, setting the stage for a weakening of the local peso and an increase of soybean shipments from the world’s No. 3 exporter.

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EXPORT TAXES

The new Argentine president will start off his new administration by eliminating the export taxes on corn and wheat. Mauricio Macri will also drop the soybean export tax rates by 5% a year until it is eliminated in seven years.

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US SOYBEAN EXPORTS SLOWING

Despite abundant supplies, U.S. soybean exports for the current marketing year (September/August) are forecast down from last year, due largely to greater competition from Brazil. Soybean production in Brazil is forecast to reach a record 100 million metric tons this year.

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ARGENTINA PROMISES

Argentina’s ruling party presidential candidate would quickly slash grains export taxes and gradually phase out other controls that hurt farm profits, one of his top advisers said on Wednesday, changes that would sharply break with current policy. Last week, the challenger who leads in the polls made a similar promise.

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TPP UPDATE

USDA’s Foreign Agricultural Service has issued commodity-by-commodity fact sheets outlining the reductions in tariffs and increases in import quotas negotiated under the Trans-Pacific Partnership. Check out Illinois’ numbers.

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