Returning from a recent trip to the Panama Canal, an Indiana farmer says drought in Central America continues to impact global trade. Carey McKibben told Brownfield Ag News that the lower water levels are slowing business with some of the United States’ largest trade partners.
The slowdown is impacting both imports and exports since domestic producers export a lot of corn and soybeans to Peru and Chile. And, in return, those countries send fruits, vegetables, and aquaculture back to the U.S.
This year is the second-driest year on record in the Canal’s history and ultimately became the first year to require trade restrictions due to extremely low water levels.
Currently, only 22 ships are allowed to pass through the waterway each day. The Panama Canal Authority is set to increase that number to 24 on January 16 if weather conditions are favorable.
Canadian tariffs would raise costs for potash, ammonia, and UAN, increasing spring fertilizer risk.
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Lewis Williamson with HTS Commodities breaks down the outlook on grain storage and domestic supply chain strength as producers weigh planting decisions with forthcoming federal aid.
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Experts say flooding the zone with more money could have unintented consequences without opening new markets for planted crops and inputs under significant pressure.
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Julie Callahan was nominated earlier this summer by President Donald Trump, and U.S. Trade Representative Jamieson Greer told lawmakers she is ready to hit the ground running.
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American Soybean Association President Caleb Ragland shares the soybean sector outlook following the announcement of farm aid to offset losses for U.S. row crop growers.
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Sen. Deb Fischer, of Nebraska, mentioned that Congress pushing through year-round E15 sales will do more to help commodity growers than more farm aid, which is currently a reality.
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