There are more details flowing about the recent trade deal with Japan.
Rice was a major component, but the numbers are better than expected, and now more ag goods are included in the deal.
A White House fact sheet shows Japan will increase U.S. rice imports by as much as 75 percent, and they will also buy $8 billion worth of additional U.S. goods, like fertilizer, ethanol, and sustainable jet fuel, as well as commodities, like corn and soybeans.
Details show American manufacturing could get a boost there as well, with U.S. automotive standards now approved there for the first time ever.
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Overall, the report suggests a shift toward more comfortable supply levels, with demand emerging as a key factor to watch in the months ahead.
Coal-based ethanol could weaken long-term export demand for corn-based fuels.
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Seth Tucker of Tucker Farms, a first-generation Arkansas farmer, says rising input costs are forcing changes to his operation, including stepping away from rice this season.
China’s changing pork demand may limit export growth opportunities.
Lower shipping costs alone will not restore export competitiveness.
