As China buys U.S. corn, Trump has ‘many other things in mind’ than trade talks
President Trump declared Sino-U.S. relations “severely damaged” and said he has “many other things in mind” beyond following up on the interim agreement that de-escalated the trade war between the world’s two largest economies. Trump spoke dismissively of new negotiations with China on Friday, hours after exporters reported the largest sale of U.S. corn to China in 26 years.
Rural advantages in coronavirus recovery
The coronavirus “dealt an economically devastating hand to nearly the whole country,” but job losses were smaller and shutdowns were shorter in rural America, said rural lender CoBank in a quarterly report. “Economic recovery may now favor rural communities for the first time in many years.”
TODAY’S QUICK HITS
Physical distancing in Michigan meat plants: Gov. Gretchen Whitmer signed an executive order that requires meatpackers to implement safety measures for workers at meat- and poultry-processing plants, including use of face masks and keeping workers six feet apart if possible. (Mlive)
Shrinking U.S. share of corn and soy: The United States accounts for one-third of world corn and soybean production, down from its long-dominant position as the largest grower and exporter of both crops. (Farmdoc Daily)
To slow wildfire, U.S. tries more grazing: The Interior Department proposed “targeted grazing” on 24 million acres of rangeland in hopes the livestock will create natural fuel breaks to slow rampaging wildfires, but ecologists say more highly flammable and invasive cheatgrass will be the long-term result. (The Counter)
FAO creates core leadership team: The 49-nation FAO Council approved a modernization plan for the UN agency to make it more flexible and efficient, including creation of a core leadership team of six officers working directly under Director-General Qu Dongyu. (FAO)
Chitnis is acting NIFA director: Parag Chitnis, the associate director for programs, will serve as acting director of USDA’s National Institute of Food and Agriculture following the departure of Scott Angle. (USDA)
ON THE USDA CALENDAR
Monday
Purdue University’s Center for Commercial Agriculture holds webinar on ag outlook, 12:30 p.m. ET. Purdue agricultural economists Michael Langemeier and James Mintert are speakers.
USDA issues weekly Crop Progress report, 4 p.m. ET.
Tuesday
U.S. Bureau of Labor Statistics releases monthly Consumer Price Index report, 8:30 a.m. ET.
U.S. Wheat Associates holds summer board meeting online, through Friday.
USDA releases monthly Oil Crops Outlook and Cotton and Wool Outlook, noon ET.
USDA releases monthly Feed Outlook, Wheat Outlook and Rice Outlook, 3 p.m. ET.
Wednesday
American Enterprise Institute holds webinar, “Mexico vs coronavirus: Can the US-Mexico-Canada Agreement save Mexico’s economy?” 11 a.m. ET.
Thursday
OECD and FAO release joint Agricultural Outlook 2020-2029, an assessment of the prospects of national, regional and global agricultural commodities in the coming decade, 9 a.m. ET. The report will include an analysis of the impact of Covid-19 on the food and agriculture system.
American Enterprise Institute holds webinar, “Poverty in the wake of the pandemic-induced recession,” 11 a.m. ET.
USDA releases monthly Livestock, Poultry and Dairy Outlook, noon ET.
USDA releases monthly Sugar and Sweetener Outlook, 3 p.m. ET.
