How far out are pending trade agreements?

U.S.-Japan: On Monday, Sep. 16, President Trump informed Congress that he had reached an initial trade deal with Japan. The president noted his intent to sign an agreement before the end of September with a key goal being “more fair and reciprocal trade” between [...]

2018/19 soybean exports should beat August forecast

The U.S. exported 873,260 MT of soybeans during the week ending Aug. 22, down 26 percent from the previous week but still more than a third above the necessary weekly average for the rest of August. Cumulative exports totaled 45.0 MMT (1.65 billion bushels). [...]

U.S. may expand 2018/19 Mexican sugar import quota

Official estimates peg October-May imports of Mexican sugar at 596,739 metric tons raw value (MTRV), down 17.5 percent from the 723,704 MTRV imported during the same months of 2017/18. Year-to-date imports are down 19.6 percent from the average of the three market years that [...]

Corn futures market flexes amid wild planting season

This past Wednesday, the Jul-19 corn futures contract pushed to a three-year high before showing resistance around $4.38. The market rally began on May 13, when futures opened at a 2019 low of $3.35 and have only declined in two trading days since. In [...]

Trade obstacles persist for U.S. pork

Last Thursday, Apr. 18, the U.S. International Trade Commission (USITC) released its report on the impact of the United States-Mexico-Canada Agreement (USMCA). Ratification of the free-trade agreement (FTA) could improve the situation for U.S. pork exports, which have seen a sharp drop this past [...]

Rise in dairy product inventories

While trade tensions between U.S. and China are not yet settled and NAFTA’s replacement, USMCA, has not been ratified, exports of dairy products that would normally be shipping to these two key destinations have been lagging. Following U.S. steel and aluminum tariffs, China and [...]

U.S. HFCS export fell 2 percent in 2018

USITC data for December show the U.S. exported 73,330 MT (dry weight) of HFCS during the month: 3,375 MT of HFCS-42 and 69,955 MT of HFCS-55, which raised cumulative 2018 HFCS exports to 1.046 MMT, slightly lower than annual exports in 2016 and 2017. [...]

Mexican domestic sugar prices spike on cane grower protests

In the last week, the refined sugar price fell 1.1 percent, a more rapid decline than in previous weeks. Pricing for estandar, however, gained 6.0 percent to pre-harvest levels. This atypical increase in price can only be attributed to the market’s reaction to organized [...]