U.S.-China Talks and Ethanol Production Records
From the Ag Information Network, this is your Agribusiness Update.
**A new sign of deteriorating relations after China accused the U.S. of violating the trade truce the countries signed last month.
The agreement signed in Switzerland led to a deal to lower tariffs on each other for 90 days while they negotiated on trade.
But President Trump accused Beijing of violating the agreement, a day after Treasury Secretary Scott Bessent said negotiations are “a bit stalled.”
Talks could resume this week.
**The U.S. has churned out record levels of ethanol since late last year.
But Reuters says the U.S. does have large stockpiles of ethanol that can offset lower production levels in the short term.
During the four weeks ending May 23, America’s ethanol production averaged about 1.026 million barrels per day, the best in the last six years but behind the levels of six and seven years ago.
**The USDA’s April Prices Received Index fell 3.6 percent from March but was higher by 12 percent year-over-year.
The livestock production index fell 8% in April compared to the prior month but was still 18% above last year.
The crop production index rose 4.9% from March but was down 1.1% from last year.
Ag producers saw lower prices received for eggs, milk, lettuce, and hogs, but higher prices for cattle, broilers, strawberries, and calves.
