Latest News Summary
FY 2020 U.S. Agricultural Exports Forecast Lowered
Last week, USDA’s Economic Research Service (ERS) and Foreign Agricultural Service (FAS) released the Outlook for U.S. Agricultural Trade, a quarterly report examining U.S. agricultural trade.
Recent News Summaries
Federal Reserve: Observations on the Ag Economy- May 2020
On Wednesday, the Federal Reserve Board released its May 2020 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. The report included several observations pertaining to the U.S. agricultural economy.
Phase One Purchases Behind Schedule, as China Halts Some U.S. Farm Imports
David J. Lynch and Emily Rauhala reported on the front page of Saturday’s Washington Post that, “President Trump on Friday leveled an extraordinary broadside at the Chinese government, accusing it of a comprehensive ‘pattern of misconduct’ and ordering U.S. officials…
COVID-19 Impacts on Livestock Markets Persist, While Fed Says Ag Sector “Under Severe Stress”
Recent news articles continue to highlight the ripple effects COVID-19 is having on some aspects of the U.S. livestock market. Meanwhile, the minutes from the Fed’s April meeting noted that, “The agricultural sector was under severe stress due to falling…
China Reiterates Pledge to Implement Phase One Agreement
Bloomberg News reported yesterday that, “China reiterated a pledge to implement the first phase of its trade deal with the U.S. despite setbacks from the coronavirus outbreak, and as tensions escalate between the world’s two biggest economies.”
Biofuel Issues Abound: Blending Quotas, RFS Waivers, COVID-19 Relief for Ethanol, and Gasoline Demand
Earlier this week, Bloomberg writer Jennifer A Dlouhy reported that, “The Environmental Protection Agency has drafted a plan to slightly lift biofuel-blending targets next year, while so far skirting potentially controversial decisions about exempting refineries from U.S. mandates to use…
USDA Announces Details of Coronavirus Food Assistance Program (CFAP) Aid Payments
Bloomberg writers Mike Dorning and Teaganne Finn reported yesterday that, “President Donald Trump announced rules Tuesday for a $19 billioncoronavirus farm aid package covering a broad swath of U.S. agriculture that producers can begin claiming by next week.”