Mexico Reviews USMCA and Grain Supply Concerns
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Mexico's ambassador to the U.S. says the review of the U.S.-Mexico-Canada Agreement should be completed before the end of the year, providing greater certainty for farmers, businesses, and investors.
Ambassador Roberto Lazzeri told Bloomberg that the three countries need to move quickly to preserve North America's competitive advantage and every delay costs the region market share and competitiveness.
The USMCA governs about $2 trillion in annual trade.
**Combine sales posted modest gains in June, while tractor sales continued to decline, according to Association of Equipment Manufacturers numbers.
U.S. combine sales increased 3.9% from a year ago, while Canadian combine sales jumped 14.2%.
U.S. ag tractor sales fell 18.4%, and Canadian sales dropped 12.5%.
AEM Senior Vice President Curt Blades says although tractor sales remain below last year's levels, the increase in combine sales is welcome.
**Global corn consumption is projected to exceed production during the 2026-27 marketing year, raising concerns about the shrinking margin in world grain supplies.
According to USDA projections analyzed by Reuters, world corn usage is expected to surpass production by about 1.8%, marking the largest supply deficit in 16 years.
Wheat consumption also is expected to outpace production.
Analysts say the imbalance reflects steady growth in feed demand, particularly in livestock-producing nations.
