Wall Street Journal writers Bob Davis and Lingling Wei reported this week that, “Senior U.S. and Chinese officials said they were committed to carrying out the phase-one trade accord between the two nations, the two governments said, after the two sides discussed the pact Monday evening U.S. time.”
Farm Policy News
Brazilian Pantanal Faces the Greatest Environmental Tragedy in Decades
The Pantanal, the largest continental humid area on the planet, is facing the greatest environmental tragedy in decades.
“Fragile” Farm Economic Conditions Persist, as Ethanol Waiver Concerns Remain
Wall Street Journal writer Kirk Maltais reported on Saturday that, “Following a growing season last year filled with battering rainfall and bitter trade wars, U.S. farmers hoped 2020 would provide them an opportunity to make up some ground. Instead, the situation has grown worse for many as prices remain depressed.”
Phase One Talks Delayed, While Recent USDA Reports Provide Perspective on U.S. Farm Exports to China
Bloomberg News reported this week that, “President Donald Trump said he called off last weekend’s trade talks with China, raising questions about the future of a deal that is now the most stable point in an increasingly tense relationship.”
Federal Reserve Ag Credit Surveys- 2020 Second Quarter Farm Economy Conditions
On Thursday, the Federal Reserve Banks of Chicago and Kansas City released updates regarding farm income, farmland values and agricultural credit conditions from the second quarter of 2020.
Countries Put Restrictions on Brazil After Covid-19 Found in Frozen Chicken- Brazil To Take Cases to WTO
After the Chinese government reported that frozen chicken wings imported from Brazil tested positive for Covid-19 last Thursday, other countries have imposed restrictions on purchases from Brazil.
Derecho Damage Begins to Unfold: Estimated 37.7 Million Acres of Farmland Impacted
Reuters writer Tom Polansek reported on Friday that, “A storm packing hurricane-force winds on Monday impacted 37.7 million acres of farmland across the Midwest, including 14 million in Iowa, the Iowa Soybean Association said on Friday, citing estimates from the U.S. Department of Agriculture.”
As U.S., Chinese Negotiators Plan Phase One Meeting, Trade Remains a Rare Area of Cooperation
Bloomberg News reported on Wednesday that, “U.S. and Chinese negotiators plan to discuss progress of their trade deal in the coming days, with Beijing pushing to widen the agenda to include Washington’s recent crackdown on businesses including TikTok and WeChat.”
Farm Bankruptcies, Drought, Derecho, and Land Values: Recent Ag Econ Variables in Focus
Wall Street Journal writer Jesse Newman reported last week that, “More U.S. farmers are filing for bankruptcy, as federal payments projected to reach record levels this year fall short of compensating for the coronavirus pandemic and a yearslong slump in the agricultural economy.”
Research Shows the Profile of Brazilian Digital Agriculture During the Pandemic
An unprecedented survey carried out by the Brazilian Agricultural Research Corporation (Embrapa) reveals the behavior around the use of digital solutions in the field in Brazil during of the Covid-19 pandemic.
China Soybean Imports Robust in July, But Soy a Lower Component of U.S. Farm Exports
Bloomberg News reported on Thursday that, “China’s soybean imports were the second highest on record in July as processors increased purchases of cheaper Brazilian supplies and demand for hog feed recovered.”
Department of Energy Finishes Recommendation on Retroactive RFS Exemption Requests
Reuters writer Stephanie Kelly reported this week that, “The U.S. Department of Energy has recommended that some of the oil refiners that applied for retroactive exemptions from the nation’s biofuel blending law be granted partial relief, two sources familiar with the matter said on Tuesday.”
U.S., China to Discuss Phase One Trade Deal Later this Month
Lingling Wei and Bob Davis reported in today’s Wall Street Journal that, “The U.S. and China have agreed to high-level talks on Aug. 15 to assess Beijing’s compliance with the bilateral trade agreement signed early this year, according to people briefed on the matter.”
New Locust Clouds Appear in Argentina and Country Declares State of Agricultural Emergency
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.
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.