NAFTA Renegotiation Talks Extended– U.S. Dairy Proposal Rejected

Ana Swanson reported on Tuesday at The New York Times Online that, "Until Tuesday, the North American Free Trade Agreement looked like it might be headed for a quick demise. Now, it could be headed for a slow, painful one. The United States, Canada and Mexico said on Tuesday that they would extend Nafta negotiations into next year, with the parties citing 'significant conceptual gaps' in how to rewrite the 1994 trade pact."
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USDA-FAS Report: China’s Meat and Poultry Import Forecast, 2018

On Thursday, the U.S. Department of Agriculture's Foreign Agricultural Service (FAS)  released its biannual "Livestock and Poultry: World Markets and Trade" report, which is published in April and October, and is "designed to give a snapshot of the current situation among the major players in world beef, pork, and broiler meat trade." Today's update provides a recap of some of the highlights from the FAS report, which was titled, "China’s Meat and Poultry Import Forecast 2018: Decline and Constrained Growth."
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Rural Economy: Farm Income, Manufacturing- Both Important Variables

The Bureau of Economic Analysis (BEA) indicated in a news release last week that, "State personal income grew 0.7 percent on average in the second quarter of 2017, after increasing 1.4 percent in the first quarter, according to estimates released [Tuesday] by [BEA]." However, the release added that, "Farm earnings declined for the nation and in every state in the second quarter and was the leading contributor to slow earnings growth in many states."
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Senate Farm Bill Hearing, Rural Development- Broadband Access, Opioid Epidemic Noted

On Thursday, the Senate Agriculture Committee held its ninth Farm Bill hearing where the panel turned its attention to rural development and energy programs.  Recall that a House Agriculture Subcommittee explored similar issues back in March.  Today's update provides a brief overview of yesterday's hearing with particular focus on rural broadband Internet access and the opioid epidemic, two issues that were raised by lawmakers.
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“Drowning In Grain”- Reuters Special Report on the Global Grains Glut

Reuters writer Rod Nickel reported yesterday that, "On Canada’s fertile Prairies, dominated by the yellows and golds of canola and wheat, summers are too short to grow corn on a major scale. But Monsanto Co is working to develop what it hopes will be North America’s fastest-maturing corn, allowing farmers to grow more in Western Canada and other inhospitable climates, such as Ukraine...The question, amid historically high supplies and low grain prices, is whether the world really needs more corn."
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