Articles of Interest- Monday, January 7, 2019
January 7, 2019
America’s Lost Markets
The Wall Street Journal – 01/06/2019
The world turns even if America doesn’t. That’s certainly true on trade, where a rebranded
Trans-Pacific Partnership has begun with the new year in 11 countries two years after President
Trump withdrew. The biggest losers are American producers.
Pacific Trade Deal Hits U.S. Food Producers
NACS – 01/07/2019
President Trump backed out of the deal early last year, which will likely put pressure on U.S. products and commodity producers. Member countries will benefit from the CPTPP with reduced tariffs and increased cost of goods from non-members. “Our competitors in Australia and Canada will now benefit from those provisions, as U.S. farmers watch helplessly,” said U.S. Wheat Associates President Vince Peterson at a hearing.
Shutdown Data Delay is ‘Bad Deal’ for Farmers Who Need to Make Crop Plans
Bloomberg – 01/05/2019
The U.S. government shutdown means the Department of Agriculture will delay the release of several market-moving reports at a time when farmers start to make their planting decisions for the upcoming season. The USDA’s monthly World Agricultural Supply and Demand Estimates won’t be released on Jan. 11 as originally planned even if the government resumes operations before then, the agency said Friday.
Grains Mixed Ahead of Trade Talks, Fund Rebalance
The Progressive Farmer – 01/07/2019
Wheat markets are weaker, trading inside Friday’s range as last week’s gains are consolidated. Unfortunately, with the government closed, traders are not getting any confirmation of the rumored export business.
Farmers to be Represented in China Trade Talks Next Week
Agri-Pulse – 01/04/2019
U.S. agriculture has much to gain or lose in the trade talks in Beijing next week, and the sector will be well represented when U.S. and Chinese negotiators meet in an attempt to end the ongoing trade war. Undersecretary for Trade and Foreign Agricultural Affairs Ted McKinney and U.S. Trade Representative Chief Agricultural Negotiator Gregg Doud will both be leaving this weekend to take part in the talks, the USTR announced Friday.
New Year Begins with a Reversal Higher for Wheat
Successful Farming– 01/05/2019
After a weak end to last year and a slow start for the New Year, wheat markets reversed higher, giving us a nice weekly reversal up and an outside week higher for the Kansas City market. The rumors centered on the prospect of much of that business being high-grade milling wheat, as buyers become increasingly concerned about the state of Argentina’s and Brazil’s crops. Heavy rains across their remaining harvest regions have caused significant flooding, likely forcing a replant of corn and soybeans, but also stalling the wheat harvest and reducing quality on wheat still in the field.
Source: U.S. Wheat Associates