According to USDA’s latest agricultural trade data, the overall ag trade balance in March was negative. The U.S. ran a trade deficit of $502 million for the month, based on exports of $11.885 billion and imports of $12.386 billion. It is only the sixth time in the past 63 months, but second time in 2020 and the fourth time in the past 12 months.
The trade data come at a particularly significant time as there are commodity surpluses in the U.S., exacerbated by the COVID-19 situation, but also looming food shortages particularly in the protein sector. A number of major retailers are moving to place limits on consumers’ purchases of beef, pork, and poultry, and Brazilian and Australian packers are eyeing the retail shortages as...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
