Agribusiness Update for Thursday 04/14/16

The rise in Canadian farmland prices will slow in 2016, thanks in part of softer commodity prices.  Farm Credit Canada said that growers should prepare for a possible easing in land values after prices rose at a slower rate in 2015.  Prices rose ten percent in 2015, and should rise between 2-4 percent in 2016 thanks to ample supplies of grains and oilseeds pressuring commodity prices.  Lower commodity prices and late spring frost that prompted reseeding plus rainfall at harvest hurt values.  Crop receipts are expected to fall from levels seen in 2015. 

225 food and agricultural companies and trade associations sent a letter to Congress on Monday calling for a swift vote on the Trans Pacific Partnership. Japan is American beef's largest export market, and right now, American beef faces an import tariff that's eleven percent higher than Australian beef, which is America's biggest competitor in the marketplace. Upon TPP implementation, the tariff on American beef drops eleven percent right away, and continues to fall until in reaches a nine percent tariff rate.

That's today's Agribusiness Update from the Ag Information Network of the West.