Round Two of NAFTA Talks Complete and Harvey Disrupts Wheat Exports

Round Two of NAFTA Talks Complete and Harvey Disrupts Wheat Exports

Bob Larson
Bob Larson
From the Ag Information Network, I'm Bob Larson with your Agribusiness Update.

**The U.S., Mexico and Canada are largely in agreement on issues related to the energy sector as another round of talks to modernize the North American Free Trade Agreement come to a close.

Mexican economy minister Ildefonso Guajardo says the countries are still discussing whether to devote a separate chapter to energy in the agreement, or whether to weave it in across the board.

The three countries wrapped up the second round of talks to modernize NAFTA on Tuesday.

**An ag economist says a decline in commodity prices is the driver in the downward shift in producer sentiment in August.

David Widmar says the Purdue University/CME Group Ag Economy Barometer, a monthly survey of 400 U.S. farmers, dropped seven points to 132. A rating below 100 is negative, while a rating above 100 indicates positive feelings about the ag economy.

He tells Brownfield the barometer is a measure of the health of the nation's ag economy based on farmers representing corn, soybeans, wheat, cotton, beef cattle, dairy cattle, and pork producers.

**Disruptions and delays to U.S. wheat exports from Texas as a result of Hurricane Harvey are expected to persist for days, according to trade experts, after shipments were wiped out last week by flooded railroad tracks and closed ports.

The storm came ashore on August 25th, closing export terminals that handle around a quarter of U.S. wheat shipments.

Reuters reports that many tracks are still under water.

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