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Shining Light on Farm & Food Policy for 20 Years.
Thursday, October 31, 2024
China is buying unprecedented levels of U.S. corn, and much of that demand comes from the country’s race to modernize its pork production – a mission that’s expected to sustain a long-term increased reliance on grain and oilseed imports, according to U.S. government and industry officials.
Grains and other agricultural commodity shippers could benefit from a Canadian rail line’s acquisition of Kansas City Southern because of faster shipping routes, but some experts also are concerned the deal could lead to further mergers that ultimately reduce competition and increase rail rates.
Rising crop prices and an economy emerging from the doldrums of the COVID-19 pandemic are creating greater demand for fertilizer, tightening supply chains and boosting input prices considerably, industry officials and observers say.
Representatives of the United States, Mexico and Canada sit down to hash out trade disagreements this week, while President Joe Biden continues discussions with Republicans on an infrastructure package.
More than a thousand barges – many of them likely carrying corn or soybeans – can now resume their trip along the Mississippi River after traffic was stopped due to a cracked bridge near Memphis, Tenn., according to a statement released by the U.S. Coast Guard.
China has purchased another 1.36 million metric tons of U.S. corn for delivery in the 2021-22 marketing year, putting new strain on the next U.S. harvest as domestic and international demand continues to ratchet up.
The board of directors for Kansas City Southern decided to terminate its merger agreement with Canadian Pacific Railway in March for a new deal with Canadian National Railway.
Republican and Democratic lawmakers on Thursday beseeched U.S. Trade Representative Katherine Tai to reveal when the Biden administration will engage with Congress to re-establish Trade Promotion Authority – legislation key to negotiating new free trade agreement - but they did not get an answer.
China has again committed to a substantial purchase of U.S. corn for the 2021-22 marketing year, reinforcing optimism that demand from the country is long term.
The Biden administration wants a better trade remedy than the nearly 60-year-old Section 232 tariffs that the Trump administration enacted to counter imports of foreign steel and aluminum, U.S. Trade Representative Katherine Tai told lawmakers Wednesday.
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