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USDA Under Secretary Taylor to Lead Trade Mission to Southeast Asia

Leaders from three state agriculture departments and 29 U.S. agribusinesses and organizations will accompany U.S. Department of Agriculture Under Secretary Alexis M. Taylor on a trade mission to Southeast Asia October 30 – November 3 to expand export opportunities for U.S. food and farm products to the Association of Southeast Asian Nations (ASEAN), the world’s fourth-largest market.

“Increasing trade and investment between the United States and Southeast Asia is a key priority for the Biden-Harris Administration, as evidenced by the U.S.-ASEAN Comprehensive Strategic Partnership,” said Taylor, who leads USDA’s Trade and Foreign Agricultural Affairs mission area. “Through this agribusiness trade mission, USDA is proud to support that partnership, which aims to increase bilateral commerce and investment between the United States and Southeast Asia.”

The delegation will travel to Kuala Lumpur, Malaysia, and Singapore – both billion-dollar export markets for U.S. food and agriculture. Trade mission participants will engage directly with potential buyers, receive in-depth market briefings from USDA’s Foreign Agricultural Service and industry experts, and participate in site visits.

While in Singapore, Taylor will also meet with the U.S.-ASEAN Business Council Inc., the leading voice for more than 175 American companies working to promote mutually beneficial trade between the United States and 10 countries that comprise the ASEAN (Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam).

In addition to representatives from the following businesses and organizations, Taylor will be joined by California Secretary of Food and Agriculture Karen Ross, Montana Deputy Director of Agriculture Zachary Coccoli, and South Dakota Secretary of Agriculture and Natural Resources Hunter Roberts.

  • Aero-Cos International Ltd., Marlboro, N.J.
  • American Egg Board, Chicago, Ill.
  • Association of Genuine Alaska Pollock Producers, Seattle, Wash.
  • California Walnut Commission, Folsom, Calif.
  • CAS InterGlobal, Pleasanton, Calif.
  • Danone North America, White Plains, N.Y.
  • East West International Group, Inc., Moreland Hills, Ohio
  • Farm Breeze International LLC, Tacoma, Wash
  • Food Export Association of the Midwest USA, Chicago, Ill.
  • Food Export USA Northeast, Philadelphia, Pa.
  • Hang Tung Resources Co., Ltd, Glenview, Ill.
  • Idaho Potato Commission, Eagle, Idaho
  • Little Toad Creek Brewery & Distillery, Silver City, N.M.
  • National Pork Board, Des Moines, Iowa
  • Organic Trade Association, Washington, D.C.
  • Organic Valley, La Farge, Wis.
  • Pig Improvement Company, Hendersonville, Tenn.
  • Red Lake, Inc., Red Lake, Minn.
  • Redwood International, Irvine, Calif.
  • Santini Foods, Inc., San Lorenzo, Calif.
  • Scheier Farms, Salem, S.D.
  • Space Enterprises, LLC, The Woodlands, Texas
  • Specialty Soya and Grains Alliance, Mankato, Minn.
  • Sweet Street, Reading, Pa.
  • U.S. Grains Council, Washington, D.C.
  • U.S. International Foods LLC, St. Louis, Mo.
  • U.S. Soybean Export Council, Chesterfield, Mo.
  • U.S. Wine Exports Company, Ltd, Ravenna, Ohio
  • WeFARM Organics, Santa Fe Springs, Calif.

The next USDA trade mission will take place November 28 – December 1 to Angola.  

USDA touches the lives of all Americans each day in so many positive ways. In the Biden-Harris Administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy, and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America.

Source : usda.gov

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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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?? Join the Conversation: How do you think these developments will impact global agricultural markets? What are your views on the current weather patterns affecting crop conditions? Share your thoughts in the comments below. Your input is crucial for our discussions.