Mexico to Import Less US Corn and Colombia Lifts Ban on US Beef
From the Ag Information Network, this is your Agribusiness Update.
**USDA’s Foreign Ag Service says Mexico will import LESS corn as its domestic production increases in the 2024-25 marketing year.
A report from the FAS Mexico City Office says corn exports to Mexico will fall 2% to 23 million metric tons.
Production there is forecast to jump 6% to 25 million metric tons.
The forecast is based on higher-than-average precipitation and gradual recovery of their reservoirs over the summer.
**Colombia lifted a ban on American beef imports from the states where bird flu was detected in dairy cows.
According to USDA’s export library, beef exporters in 14 5states will get restored access to Colombian markets.
Colombia was the only country to ban U.S. beef imports over the H5N1 outbreak in dairy cattle.
The U.S. Meat Export Federation says the U.S. is Colombia’s largest supplier of imported beef.
**Navigating a softer ag economy and no new farm bill were the chief topics at the Tenth Annual Ag Outlook Forum in Kansas City recently.
The Forum is a critical information exchange between national leaders in ag policy, economics, and business during harvest season.
USDA Chief Economist Seth Meyer says most crop prices will likely continue their downward trend through the end of the year, but so will total production expenses, alleviating some of the losses.
