The Argentine Ministry of Agriculture recently decreed a state of agricultural emergency after receiving an alert for a new locust cloud. Currently, there are four monitored regions: Formosa, Chaco, Salta and Entre Ríos provinces.
Farm Policy News
China Makes (Another) Record U.S. Corn Purchase in July, But Achieving Phase One Targets May Still be a Stretch
Bloomberg writers Elizabeth Rembert and Michael Hirtzer reported last week that, “China took another step toward meeting agricultural commitments made in the phase one trade agreement with the U.S. with its biggest-ever purchase of American corn.”
Senate Releases Draft COVID Relief Measure (HEALS Act), a Follow-Up to CARES Act, but Different From House Passed HEROES Act
Washington Post writers Erica Werner, Jeff Stein and Seung Min Kim reported earlier this week that, “A fraught showdown over the next coronavirus relief bill got underway Monday as Senate Republicans unveiled a $1 trillion package [the Health, Economic Assistance, Liability Protection and Schools Act, or HEALS Act], and congressional Democratic leaders met with top White House officials.”
China Requires Covid-19 Tests on Meats and Calls for Mass Testing of Brazilian Meatpackers
Last week, the National Health Commission of China published a series of guidelines for the meat processing industry from several countries, such as Brazil. One includes the requirement for nucleic acid testing to identify the new coronavirus in fresh products.
Perspective on U.S., China Trade, as Phase One Purchases “Strong” this Summer
Last week, the USDA’s Foreign Agricultural Service (FAS) released its “2019 U.S. Agricultural Export Yearbook,” that provided “a statistical summary of U.S. agricultural commodity exports to the world and the United States’ primary trading partners.”
Kansas City Fed: Agricultural Financing Activity Slowed in Second Quarter
In an update last week from the Federal Reserve Bank of Kansas City (“Agricultural Lending Consistently Slower”), Nathan Kauffman and Ty Kreitman stated that, “Agricultural financing activity slowed in the second quarter, according to the Survey of Terms of Lending to Farmers.”
Science Magazine Study on Illegal Deforestation Causes a Strong Reaction From the Brazilian Government
A study published in the magazine Science caused a strong reaction from the Brazilian government last week. The publication shows that at least 17% of the meat and 20% of soybeans from the Amazon and the Cerrado that were exported to the European Union may have been produced in illegally deforested areas.
Farm State Lawmakers: Ethanol a Priority in Senate COVID Relief Package
Reuters writer Stephanie Kelly reported late last week that, “U.S. lawmakers from Iowa are trying to add aid for the biofuels industry into a pending coronavirus relief package in the Senate, U.S. Senator Chuck Grassley said on Friday.”
Federal Reserve: Observations on the Ag Economy- July 2020
On Wednesday, the Federal Reserve Board released its July 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.
China Makes Record U.S. Corn Purchase
Bloomberg writers Michael Hirtzer and Isis Almeida reported on Tuesday that, “China made its biggest purchase ever of U.S. corn in another boost to meeting agriculture targets set in the countries’ first-phase trade accord.”
Brazilian Agribusiness Exports Set a Record, as Domestic Supply Difficulties Begin
Brazilian agribusiness exports were at record levels in June 2020, with foreign sales of US$ 10.17 billion. There was a growth of 24.5% in relation to exports in June 2019 (US$ 8.17 billion). The result was released last Friday by the Department of Commerce and International Relations of the Ministry of Agriculture of Brazil.
Phase-Two Deal With China Unlikely, As U.S. Corn Exports Continue
Josh Zumbrun and Catherine Lucey reported on the front page of Saturday’s Wall Street Journal that, “President Trump damped expectations for a promised phase-two trade pact with China on Friday, saying the relationship between the countries has been too badly damaged by the coronavirus pandemic.”
Amid Weaker Economic Conditions, Reports Suggest Farmland Values Holding Steady
Last week, the Federal Reserve Bank of Dallas released its Agricultural Survey. In part, the quarterly report stated that, “Bankers responding to the second-quarter survey reported overall weaker conditions across most regions of the Eleventh District.”
U.S. Corn and Cotton to China, But Buying Pace Needs a Big Boost to Meet Phase One Pledges
Bloomberg writers Michael Hirtzer and Dominic Carey reported last week that, “While U.S. shippers sent sizable orders of wheat, corn, cotton, pork and other agriculture goods to China in May, China would need to pick up the buying pace further to meet its trade-deal pledges.”
China Expands Suspension of Meat Imports from Brazil
The suspension of meat imports by China so far affects five large Brazilian plants. On Saturday, the Asian country removed pig companies BRF in Lajeado and JBS in Três Passos, both cities in Rio Grande do Sul state, from the list of plants authorized to export. Less than a week earlier, another three units (two beef and one poultry) had their sales to China halted. China is the largest importer of pork, beef and chicken from Brazil.
Ethanol: Issues Over EPA SRE (Small-Refinery Exemption) Requests Persist
Rachel Frazin reported recently at The Hill Online that, “The Senate Environment and Public Works Committee will not take up Douglas Benevento’s nomination for the No. 2 position at the Environmental Protection Agency (EPA) after Sen. Joni Ernst (R-Iowa) announced her opposition.”
China Imports Still Not on Pace to Meet Phase One Targets
On Monday, Bloomberg News reported that, “China’s purchases of U.S. goods increased last month as the economy continued its recovery from the coronavirus shutdowns, but imports are still far behind the pace needed to meet the terms of the ‘phase one’ trade deal.”
Argentina Combats Locust Cloud, as Brazil Stays on Alert
Last week, the advance of a locust cloud put the Brazil and Argentine authorities on alert. According to a bulletin released by the National Service for Health and Agrifood Quality (Senasa), the locust cloud came from Paraguay, where it destroyed corn crops. The cloud’s movement has been influenced by wind direction and high temperatures.
China’s Restrictions on Food Imports Meet Resistance from Exporters
Last week, Bloomberg’s Mike Dorning reported that, “U.S. health and agricultural authorities issued thinly veiled criticism of new demands from China for food-exporting companies to sign documents stating that they comply with safety standards to prevent transmission of Covid-19.”
Senate Ag Committee Hearing: Monetizing Voluntary Conservation Practices
On Wednesday, the Senate Agriculture Committee held a Legislative Hearing to Review S. 3894, The Growing Climate Solutions Act of 2020.