Latest news with #Agriculture
Bloomberg
an hour ago
- Climate
- Bloomberg
Corn and Soybeans Head for Weekly Losses as US Weather Stays Wet
Crop futures were on track for a weekly decline as weather outlooks called for more rain in the US Midwest, boosting yield prospects at a time when investors were already bearish. A slow-moving cold front in the region Friday helped to bring cooler temperatures, according to the US Department of Agriculture's daily outlook. 'Heavy showers and thunderstorms along the front are maintaining favorable moisture supplies for corn and soybeans in the central Corn Belt,' the agency said.
Fox News
an hour ago
- Politics
- Fox News
Agriculture Department launches major reorganization
Agriculture Secretary Brooke Rollins joins 'America's Newsroom' to discuss the ongoing reorganization within the department.
Yomiuri Shimbun
2 hours ago
- Business
- Yomiuri Shimbun
Increased Imports of U.S. Rice Likely to Have Limited Impact in Japan; Aircraft Agreement, LNG Project May Cause Issues
The outline of the Japan-U.S. trade and investment agreement announced Wednesday by the administration of U.S. President Donald Trump included key U.S. demands such as increased imports of U.S. rice and other agricultural products and the purchase of about 100 commercial aircraft. Questions have been raised about the feasibility of some elements of the deal, such as a proposed joint project on Alaskan liquefied natural gas. Imports of U.S. rice were a major focus during the bilateral negotiations. Japan annually imports 770,000 tons of rice tariff-free under a 'minimum access' framework. Tokyo and Washington have agreed the proportion of these imports allocated to U.S. rice will be expanded by 75%. 'The total rice import quota won't increase,' Agriculture, Forestry and Fisheries Minister Shinjiro Koizumi told reporters Thursday. 'During the negotiations, we achieved our goal of keeping the quota at its current level.' Koizumi insisted the impact of the deal on domestic rice farmers would be imported 346,000 tons of U.S.-grown rice under the minimum access framework in fiscal 2024, accounting for 45% of the quota. Boosting the U.S. share by 75% would lift the volume of tariff-free U.S. rice imports to about 600,000 tons, or almost 80% of the total. If realized, imports of rice from Thailand, Australia, China and other nations would be reduced and the framework would be heavily tilted in favor of the United States. As things stand, 670,000 tons of the rice imported under the framework is used as animal feed or for processing. If the proportion of rice set aside for these two uses stays unchanged even after imports of U.S. tariff-free rice are increased, the impact on consumers is likely to be small. Japan will also purchase $8 billion (about ¥1.2 trillion) in U.S. agricultural products including corn, soybeans and fertilizer. Japan's imports from the United States in 2024 included about ¥459.3 billion worth of corn and about ¥187.6 billion worth of soybeans. It may be challenging to increase the imports from the current level. The imported corn is expected to be used for feed as well as fuels such as bioethanol, and some in the government view achieving the increase as not difficult. 'Increasing these imports won't present any problem,' a senior Agriculture, Forestry and Fisheries Ministry official told The Yomiuri Shimbun. 100 aircraft The Trump administration also leaned on the Japanese government to purchase about 100 commercial aircraft manufactured by Boeing Co. Major Japanese airlines will be paying close attention. Airline companies have been increasing orders for aircraft as they boost international and domestic routes due to the growth in inbound tourism and other factors. In the past two years or so, three of Japan's major airlines have announced plans to purchase a total of about 100 aircraft. A large aircraft has a price tag of tens of billions of yen. Airlines must carefully consider aircraft purchases while taking into account the fact that some have a service life of about 20 years. If airlines are forced to order more aircraft than they need in the years ahead to uphold the Japan-U.S. agreement, there are concerns that profits could deteriorate. In some cases, an aircraft accident or fault can result in an airline grounding and being unable to use any of that model of aircraft while they are inspected. To mitigate this risk, airlines also possess planes made by Europe's Airbus SE and other manufacturers. However, this balance could be upset if orders become heavily skewed toward Boeing. Some observers have also pointed out that Boeing's production capacity might not be able to keep up with a surge in orders arising from the agreement. Alaska LNG project The Alaska LNG project will involve building a massive new pipeline stretching about 1,300 kilometers from the state's north down to its Pacific coast in the south. Once completed, this pipeline project is forecast to export 20 million tons of LNG per year, equivalent to 30% of Japan's annual demand. If the pipeline becomes a reality, LNG could be shipped from Alaska to Japan in about eight days, about half the time it takes LNG from the Middle East to reach Japan. This project also offers the advantage of diversifying Japan's LNG suppliers. 'The route doesn't pass through any areas with geopolitical risks,' said Yukio Kani, chair of JERA Co., Japan's largest power generation company. 'It's a fantastic concept.' The biggest challenge facing this project is the cost. The pipeline will need to navigate three mountain ranges and 800 rivers and streams, and development is projected to cost about $44 billion (about ¥6.4 trillion). One official at a major power generation company was apprehensive about the pipeline project. 'The project will need to gain the understanding of locals concerned about its impact on the environment. The risks are too high,' the official said.
Perth Now
15 hours ago
- Business
- Perth Now
‘On notice': Trump's new beef demand
US President Donald Trump has issued a scorching demand for any global bans on US beef to be lifted, following the relaxation of importation rules in Australia. In a post on his social media platform Truth Social, Mr Trump said 'After many years Australia has agreed to accept American Beef'. 'For a long time, and even though we are great friends, they actually banned our Beef.' He insisted that the US would now sell 'so much to Australia'. 'This is undeniable and irrefutable Proof that U.S. Beef is the Safest and Best in the entire World. 'The other Countries that refuse our magnificent Beef are ON NOTICE. 'All of our Nation's Ranchers, who are some of the hardest working and most wonderful people, are smiling today, which means I am smiling too. He ended the post with a call to 'keep the Hot Streak going'. It comes after the Albanese government's decision to lift restrictions on US beef imports, which came after a lengthy science-based review. The relaxation of the rules has however faced criticism from the Coalition for its 'exquisite' timing as Labor enters trade negotiations with the US. The Trump Administration claimed credit for the change in a Department of Agriculture press release titled 'Make Agriculture Great Again Trade Wins: President Trump Secures Greater Ag Market Access to Australia for American Beef'. The US Secretary of Agriculture Brooke Rollins said the change removed 'non-scientific trade barriers'. 'Gone are the days of putting American farmers on the sidelines,' Ms Rollins said. 'This is yet another example of the kind of market access the President negotiates to bring America into a new golden age of prosperity, with American agriculture leading the way.' The Albanese government has insisted that there are no biosecurity risks in lifting the restrictions. NewsWire / Martin Ollman Credit: News Corp Australia The change was also praised by US Trade Representative Jamieson Greer in a statement on Thursday that singled out US President Donald Trump's 'leadership' for the change. 'Yesterday's decision by Australia marks a major milestone in lowering trade barriers and securing market access for US farmers and ranchers,' he said. 'President Trump is taking decisive action to confront unfair trading practices, and Australia's decision to unlock market access for US beef is a direct result of his leadership.' US beef was first banned in Australia in 2003 following an outbreak of mad cow disease. It was a total ban until 2019, when it was lifted, albeit restrictions remained on US exports that originated in Canada or Mexico. Australia had maintained the ban under the banner of biosecurity, but Agriculture Minister Julie Collins said that the Department of Agriculture, Fisheries and Forestry was 'satisfied' with the 'strengthened control measures' put in place by the US. Local Australian beef producers have said the expect the new import rules to have minimal effect, citing high demand in the US and Australian's preference for homegrown meat. 'The potential for US beef to be imported into Australia in large volumes is minimal, given the high demand for beef in the US, the low US cattle herd, the strength of the Australian dollar, our competitive domestic supply, and most importantly Australians' strong preference for high-quality, tasty and nutritious Australian beef,' Meat and Livestock Australia said in a statement.
Axios
a day ago
- Business
- Axios
USDA will move most of Washington staff "closer to" farmers
The U.S. Department of Agriculture (USDA) will shutter nearly all of its Washington, D.C. buildings and disperse most of its staff throughout the country, Secretary of Agriculture Brooke Rollins announced on Thursday. Why it matters: The USDA is one of several departments to majorly restructure during President Trump's second term, seeing more than 15,000 employees accept White House resignation offers. State of play: Most of the Washington-area staff will relocate to five locations around the country, Rollins confirmed in a statement. In a video message to employees, Rollins said that employees will be placed in Fort Collins, Colorado, Indianapolis, Kansas City, Missouri, Raleigh, North Carolina, and Salt Lake City. Staff will receive details about their new assignments in the coming months. The department will close nearly all of its D.C.-area buildings, except for the Whitten and Yates buildings on the National Mall. What they're saying: Rollins said that the move is a cost-cutting one in step with Trump's agenda to slash the federal budget. "President Trump has made it clear government needs to be scrutinized, and after this thorough review of USDA, the results show a bloated, expensive, and unsustainable organization," the department said in its statement. "However, there will be no large-scale reductions in force, given that the department has already seen an exodus of 15,364 employees through the administration's deferred resignation plan." Catch up quick: The department said last week that it fired 70 foreign contract researchers following a national security review intended to secure the U.S. food supply from adversaries that include Russia, China, North Korea and Iran.
