Earlier this week, Bloomberg writers Isis Almeida and Agnieszka de Sousa reported that, “It’s not just grocery shoppers who are hoarding pantry staples. Some governments are moving to secure domestic food supplies during the conoravirus pandemic.”
Farm Policy News
Progress in U.S., China Phase One Trade, as COVID-19 Logistical Hurdles Impact Markets
Reuters writers Andrea Shalal and David Lawder reported this week that, “The United States and China have made progress in implementing the agriculture-related provisions of a Phase 1 trade deal that took effect on Feb. 14, the U.S. Department of Agriculture (USDA) and U.S. Trade Representative said on Tuesday.”
Time Has Run Out for EPA to Appeal 10th Circuit Biofuels Ruling
Reuters writer Richard Valdmanis reported on Wednesday that, “Time has run out for the U.S. Environmental Protection Agency to challenge a federal court ruling that would limit the agency’s use of waivers exempting small oil refineries from the country’s biofuels regulations.”
Farmers Could Encounter Planting Delays in 2020, But Less Severe Conditions Than Last Year Expected
Last week, New York Times writer John Schwartz reported that, “Brace for another flooded spring — but not one as bad as last year, forecasters from the National Oceanic and Atmospheric Administration warned on Thursday.”
COVID-19 Has “Dimmed” Economic Prospects for Corn Belt Farmers
Wall Street Journal writers Jacob Bunge, Kirk Maltais, and Jesse Newman reported on Saturday that, “The new coronavirus is dealing another blow to the struggling U.S. agricultural sector, driving down crop and livestock prices and threatening labor shortages for farms.”
COVID-19 Impacts: Plenty of Food “In the System,” But Guest Worker Concerns Persist
Ryan McCrimmon and Catherine Boudreau reported on Wednesday at Politico that, “Don’t be fooled by the barren grocery store shelves: There’s plenty more food on the way.”
Seasonal Labor, Transportation, Financing, and Food Inflation (China) Among Outbreak Issues in U.S. and Abroad
Reuters writer Chris Walljasper reported on Tuesday that, “U.S. fruit and vegetable producers are bracing for dramatic disruptions to their labor force after the U.S. government said it was suspending visa interviews in Mexico to reduce the spread of the coronavirus.”
During Outbreak, USDA Ensures Food Safety While Protecting Health of Inspectors
Reuters writer Tom Polansek reported this week that, “The U.S. Department of Agriculture is seeking to reassure meat producers it will keep slaughterhouses staffed with federal inspectors as fears about potential shutdowns due to the new coronavirus hammer livestock prices and fuel concerns about food supplies, meat industry groups said on Monday.”
Farm State Lawmakers Maintain that Court’s RFS Waiver Decision Should Stand
DTN Ag Policy Editor Chris Clayton reported last week that, “Sen. Chuck Grassley, R-Iowa, stressed to reporters Tuesday morning [March 10th] that President Donald Trump would benefit in rural America if he simply let stand the 10th Circuit Court of Appeals decision last month against EPA’s small refinery exemption program.”
Coronavirus Increases Challenge of a Demand Bounce, and Phase One Purchase Targets
Bloomberg writers Lydia Mulvany and Michael Hirtzer reported last week that, “In times of economic woe, one of the first luxuries to go is beef. That old adage is so far proving to be true as the global coronavirus outbreak dents demand.”
Federal Reserve: Observations on the Ag Economy- February 2020
Last week, the Federal Reserve Board released its February 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.
RFS Turmoil Persists as Administration Requests Additional Time to Consider Ruling
Bloomberg writer Jennifer A Dlouhy reported on Friday that, “President Donald Trump’s decision to defend the U.S. government’s power to broadly exempt oil refineries from biofuel-blending requirements is triggering a backlash in Iowa and other states that are top producers of ethanol and the corn used to make it.”
Multiple Dynamics at Play as Observers Assess Trade One Commitments by China
Bloomberg writer Isis Almeida reported last week that, “Crop traders obsessing over the deadly coronavirus in China may be overlooking another key challenge to the Trump administration’s phase one trade deal: the U.S. dollar.”
Change of Direction, Administration Plans to Appeal 10th Circuit Court Decision on RFS Waivers
Last week, Bloomberg writers Jennifer A Dlouhy and Jennifer Jacobs reported that, “Trump administration officials have decided to pare the number of oil refineries granted waivers from biofuel mandates, according to two people familiar with the matter.”
Secretary Perdue Discusses MFP at House Ag Committee Hearing
Bloomberg writer Mike Dorning reported on Wednesday that, “U.S. Agriculture Secretary Sonny Perdue sees a ‘less than 10%’ chance that U.S. farmers will get another round of trade aid this year, despite a tweet from President Donald Trump last month raising the possibility.”
A Closer Look at Phase 1 Commitments, as Coronavirus “Has Scrambled” the Outlook
Writing recently at the CARD (Center for Agricultural and Rural Development) Agricultural Policy Review, from Iowa State University (“The Phase One Trade Deal: Projections and Implications”), Chad Hart and Lee Schulz stated that, “The Phase One deal alters the agricultural trade landscape—China has agreed to specific targets for agricultural purchases for this year and next year.”
A Brief Look at Spring Flooding Variables
Bloomberg writer Brian K Sullivan reported on Friday that, “For the second year in a row, much of the U.S. is primed to suffer multi-billion dollar flood losses, with farmers already steeling themselves for planting delays.”
China Purchase of U.S. Sorghum Highlights Willingness to Buy When it Makes Economic Sense
Bloomberg writers Isis Almeida and Michael Hirtzer reported on Tuesday that, “China is back in the market for U.S. sorghum this week, signaling the world’s top food importer is willing to buy U.S. agricultural products only when they are cheaper.”
The 2020 Outlook for U.S. Agriculture From USDA’s Chief Economist
Speaking on Thursday at USDA’s Agricultural Outlook Forum in Arlington, Virginia, USDA Chief Economist Robert C. Johansson provided a broad outlook for U.S. agriculture. Today’s update provides an overview of key aspects of Dr. Johansson’s presentation.
Highlights from USDA Trade and Commodity Outlook Reports
Following this month’s release of the USDA’s Long-Term Projections, on Thursday, the Department released its quarterly Outlook for U.S. Agricultural Trade. This update provided an overview of agricultural trade based on the 2020 fiscal year, which began in October, months before the U.S. and China signed the Phase-One trade agreement. Recall that Phase One farm purchase commitments are based on the calendar year.