17 Georgia Counties Drought Impact and American Trade Deficit Highest in a Year
From the Ag Information Network, this is your Agribusiness Update.
**On March 25, the USDA designated 17 Georgia counties as primary natural disaster areas due to severe drought conditions.
www.morningagclips.com reports the natural disaster designation allows the Farm Service Agency to extend much-needed emergency credit to producers recovering from natural disasters through emergency loans.
FSA emergency loans allow producers to borrow up to 100% of actual production or physical losses, up to a maximum amount of $500,000.
www.morningagclips.com/usda-designates-17-georgia-counties-
as-disaster-areas-due-to-drought/
**The USDA says Corn sales for export were down 21% from the previous week and four-week average.
Japan was the big buyer, followed by Mexico and Colombia.
Wheat sales overall were down 95% week-to-week and 89% on
the four-week average.
But USDA says EXPORTS of wheat rose 27% during the week.
Soybean exports for the week dropped 30%, with China the big buyer, followed by Egypt and the Netherlands.
**In February, America's trade deficit reached $68.9 billion, the highest disparity in almost a year.
The Hill says import values exceeded exports by more than analysts were expecting.
The total value of imports hit nearly $332 billion, while exports were $263 billion.
Republicans on Capitol Hill have expressed frustration with what they call an unambitious trade strategy and inadequate initiatives undertaken by the U.S. Trade Representative.
