Trump Injects New Uncertainty Over Prolonged China Trade War
President Donald Trump’s latest claim that he might push back a trade pact with China until after the 2020 elections has unleashed a new wave of uncertainty for America’s farmers who had been counting on promises that a resolution to the trade war was imminent. “In some ways I like the idea of waiting until after the election for the China deal,” President Donald Trump told reporters in London during a trip there Tuesday, “but they want to make a deal now and we’ll see whether or not the deal’s going to be right.” It was only a little more than a month ago that Trump invited Chinese Vice Premier Liu He into the Oval Office and then announced that a trade deal had been mostly agreed to and would be signed by mid-November.But that was in October and the ground has shifted, even as U.S. Trade Representative Robert Lighthizer and Liu continue their talks to try to nail down a partial, Phase One, pact that was promised to provide a massive boost to U.S. agricultural exports.
Ex-Ag Secretary Vilsack on USMCA: ‘Get it Done’
Capital Press – 12/04/2019
A trade agreement between the U.S., Mexico and Canada is likely to pass Congress with little problem if political leaders pursue it, agricultural leaders say. “Very, very few” unresolved issues remain between members of Congress and the administration in finalizing the United States-Mexico-Canada Agreement, said Tom Vilsack, former U.S. Department of Agriculture Secretary and now president and CEO of the U.S. Dairy Council…Vilsack said sufficient work appears to have been done in USMCA to strengthen, improve and modernize NAFTA, leaving no reason for it not to pass. “This is something that can be done, needs to be done,” Vilsack said. Sen. Chuck Grassley, R-Iowa, is working to create the sense of a deadline and push the agreement forward, Vilsack said.
Winter Doldrums Hit Spring Wheat Market Hard
AgUpdate – 12/04/2019
As the end of November rolled around, the spring wheat market continued to linger in the winter doldrums. “The market is starting to see some signs of bottoming, but ironically, the wheat market is being led by Chicago rather than Minneapolis,” said Jim Peterson, marketing director for the North Dakota Wheat Commission. “That’s due to the fact deliverable stocks are pretty tight in Chicago because of significant quality issues with soft red winter wheat. Also, there are more positives in terms of the world situation, and more fund or non-commercial traders in Chicago tend to get that rallying a bit more.” As December approached, Peterson noted there are some pretty hefty deliverable stocks in Duluth, Minn. He added there is no falling number specification on deliveries against the Minneapolis futures, so there may be a little bit of pressure there.
Podcast: When Trade Teams Come Calling, Joe Bippert Answers
Washington Grain Commission – 11/26/2019
Once a relative backwater for hosting trade teams, Eastern Washington has become a must visit destination for wheat buyers from around the world who want to learn more about the grain they are receiving, the farmers who grow it and the infrastructure that transports it. Joe Bippert, program director for the Washington Grain Commission, is responsible for spelling out the particulars of the wheat industry during PowerPoint presentations held in the WGC board room. In episode 153 entitled: “When Trade Teams Come Calling, Joe Bippert Answers”, listen in as newest member of the WGC staff narrates the information that a typical trade team receives.
Source: U.S. Wheat Associates