Trade

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Reduced consumer incomes around the world and supply chain difficulties during the pandemic have taken a toll on ag and food exporters in developing countries, but overall trade has remained “remarkably resilient” and some suppliers have prospered, according to a new publication from the United Nation’s Food and Agriculture Organization.

The election as well as lawmaker retirements have shaken up leadership roles on key House and Senate Committees with jurisdiction over agriculture and food, which could force Capitol Hill legislators to forge new friendships.

U.S. pork exports continue to break records, buoyed by unprecedented demand from China, where African swine fever decimated production, but American producers are preparing to adapt as the country quickly rebuilds its herd.

A pair of reports from Department of Agriculture economists project a drop in American grain and oilseed production and overseas stocks on hand, prolonging a bump in commodity prices.

President-elect Joe Biden is moving forward with his transition with promises to move on his climate proposals that involve farmers in reducing greenhouse gas emissions. Over the weekend, the president-elect went live with a transition website - BuildBackBetter.com - that includes a summary of Biden’s top policy priorities, starting with getting COVID-19 under control.

There are several big questions for U.S. agriculture as a result of the election, but none bigger than who will replace Collin Peterson as chairman of the House Ag Committee.

Nutrien reported a third-quarter loss of $1.03 per share primarily related to an $823 million writedown of its phosphate assets, compared to earnings of $141 million for the same quarter a year ago, but otherwise had a good quarter, the company said.

China is again promising that it has made structural changes to its tariff rate quota system to import corn, wheat and rice, but it’s still not clear if that’s the case as the new deadline approaches for the U.S. to tell the World Trade Organization if it agrees.

President Donald Trump maintained his strength in rural areas of battleground states even as he struggled to win reelection against a Democratic surge in the suburbs and big cities for former Vice President Joe Biden.