Posts

CAFTA/DR Trade Agreement Nearing Full Implementation in 2020

/in , , /by

For many years, the Dominican Republic has been one of the top export destinations for United States dry bean exports in the Americas. It is the top export market in the region (minus Mexico) for the period September – July 2019 at 26,000 metric tons. This is down slightly from the same period in 2018, which was recorded at 32,000 metric tons.
 
One of the reasons for this market success is the CAFTA/DR free trade agreement that went into effect in 2005. The agreement includes a tariff rate quota system that gives the U.S. the advantage of duty free market access for a specific quantity of exports every year until full implementation. Once the duty free quota is filled, preferential duties are offered on a sliding scale for up to 36,000 metric tons of U.S. origin dry beans. Read more.

U.S. and Japan Roll Out a Trade Agreement

/in , , /by

During the United Nations General Assembly in New York, President Donald Trump and Japanese Prime Minister Shinzo Abe announced the first stage of the new trade agreement between the U.S. and Japan. This agreement levels the playing field in terms of market access for certain agriculture and industrial goods, as well as on digital trade. In the next two weeks, the two countries will work out more details. The first stage of the agreement is expected to be finalized by January 2020.

U.S.-Japan Trade Agreement Fact Sheet

 

Average Cropland Value Increases in 2019

/in , /by
The average value of agricultural cropland in the United States is $4,100 per acre, up 1.2 percent from the previous year. That’s according to the USDA 2019 Land Values report released this week. That value of cropland ties the 2015 record-high and represents a 55 percent increase in values over the last decade.
 
North Dakota cropland values average $1,740 per acre and $2,070 per acre in South Dakota. A higher value of $4,840 per acre is reported in Minnesota. The average cash rent rate is $70 per acre in North Dakota, $119 per acre in South Dakota and $164 per acre in Minnesota. The U.S. pasture value average is $1,400 per acre, up 2.2 percent from 2018.
 

McKinney: Ag Must be Included in EU-US Trade Negotiations

/in , , /by

If agriculture is not included, the United States and European Union will not be able to reach a trade agreement. USDA Undersecretary Ted McKinney made that point during his visit to Brussels. Europe wants a trade deal with the United States, but is refusing to discuss increased market access for U.S. farm products.

USDA Crop Progress – June 24

/in , /by

Dry bean emergence in North Dakota is at 93 percent, nearly 95 last year and equal to the five-year average. The crop is rated at 78 percent good to excellent and zero percent poor to very poor. In Minnesota, nearly all the dry beans are planted. Emergence is at 88 percent, behind 97 percent last year and 96 percent average.

Fifty-three percent of the crop in Idaho is rated good to excellent, with 89 percent emerged. In Oregon, 80 percent is rated good to excellent and 71 percent is emerged. Seventy-eight percent of dry beans in Washington are in good to excellent condition, with 96 percent emergence.

USDA is reporting 79 percent of Montana dry beans and chickpeas are emerging, on track with last year’s average. The Wyoming dry bean is 60 percent emerged, behind 81 percent in 2018. Planting is at 54 percent in Colorado and 20 percent emergence. The Michigan dry bean crop is 31 percent planted, compared to 17 percent the week prior.

Stay up to date on the latest Crop Progress reports here.

Mexico Approves the USMCA

/in , /by

On Wednesday, the Mexico Senate approved the U.S.-Mexico-Canada Agreement by a vote of 114 to 4. Mexico is the first of three countries to ratify the trade deal. Now, all eyes are on Canada and the U.S. to approve the agreement. An implementation bill has been introduced in the Canadian Parliament. Earlier this week, U.S. Trade Representative Robert Lighthizer said Democratic concerns with labor and environmental provisions in the USMCA can “be sorted out quickly.”