USMCA's Third Anniversary and Farmer Sentiment Rebounds in June

USMCA's Third Anniversary and Farmer Sentiment Rebounds in June

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

**The American Peanut Council was in Japan last week to promote U.S. peanuts as part of the organization’s agricultural trade promotion work. reports, the APC met with government and trade officials, took a port tour, and threw out the first pitch during ‘American Peanut Day’ at a professional baseball game.

In 2022, the U.S. exported a record-high 20,000+ metric tons of peanuts and peanut products to Japan, valued at $35.6 million.

**July 1 was the third anniversary of the U.S.-Mexico-Canada Agreement, and the U.S. pork industry was happy to celebrate the occasion.

Pork exports to America’s neighbors have soared under the successor to the North American Free Trade Agreement.

Under USMCA, U.S. pork exports to Mexico have increased from almost $1.2 billion in 2020 to more than $2 billion last year.

Exports to Canada have grown from about $853 million to $867 million.

**Farmer sentiment rebounded in June as the Purdue University-CME Group Ag Economy Barometer rose 17 points to 121. reports, June's sentiment improvement left the index near the April reading of 123 after a May swoon.

The swing was driven by producer’s more optimistic view of the future as the Index of Future Expectations rose 25 points, while their perception of the current situation was unchanged.

Previous ReportUSMCA's Third Anniversary and Farmer Sentiment Rebounds in June
Next ReportFarm Bill Optimism and EU Not Concerned About Glyphosate