American Wheat Exports Low and USTR Dispute Settlement with Mexico
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**The USDA says America’s all-wheat exports are projected to be 700 million bushels, the lowest since 1971-72.
That’s a 25-million-bushel reduction from the prior month’s forecast.
Despite an increase in Hard Red Winter Wheat production, exports are cut 25 million bushels to 165 million, the lowest since by-class supply and utilization records began in 1972-74.
U.S. exports of HRW remain uncompetitive on the global market.
**U.S. Trade Representative Katherine Tai announced the U.S. is establishing a dispute settlement panel under the U.S.-Mexico-Canada Agreement.
This after Mexico set rules in February that banned the use of biotech corn in tortillas or dough.
The Mexican government also instructed its agencies to gradually substitute, i.e., ban, the use of biotech corn in all products for human consumption and for animal feed.
**Farmers for Free Trade has implored all 2024 presidential candidates to prioritize new market access trade agreements to strengthen U.S. agriculture and decrease reliance on China.
They’ve also called on the candidates to hold China accountable in a responsible manner that does NOT endanger U.S. food, agriculture's largest export market or threaten American farmers with new retaliatory tariffs.
The organization says, "The U.S. needs to again take the lead in negotiating new FTAs."
