$1-Billion More for Farmers to Families and China Buys Record U.S. Beef
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**President Trump and Ag Secretary Sonny Perdue announced up to an additional $1 billion for the Farmers to Families Food Box Program.
Perdue says with this additional funding, the Food Box Program will continue to save countless jobs, support our farmers and move food to where it’s needed most.
The program has provided over 70 million boxes to hungry Americans across the country.
**China made its largest weekly U.S. beef purchases on record two weeks ago, followed by its biggest U.S. corn deals in almost a month last week.
That’s according to USDA data showing China bought a net 3,315 tons of U.S. beef in the week ending August 20th, the largest weekly buy dating back to 1999.
Agweb.com reports, China also bought over 11,000 tons of U.S. pork, the most in a month.
https://www.agweb.com/article/china-books-record-weekly-us-beef-purchases-also-buys-us-corn?mkt/
**Driven primarily by soybeans and corn, U.S. ag exports for Fiscal Year 2021 are projected at $140.5 billion, up $5.5 billion from the revised 2020 forecast.
Soybean exports are forecast up $4.2 billion, to $20.4 billion, due to expected strong demand from China and reduced competition from Brazil.
Corn exports are projected up $700 million to $9.0 billion.
Ag exports to China are forecast at $18.5 billion, up $4.5 billion. And, Ag exports to Canada and Mexico are forecast at $21 and $19.3 billion, respectively.
https://www.ers.usda.gov/webdocs/outlooks/99228/aes-113.pdf?v=1583.2
