President Donald Trump signed an executive order this week to secure a trade deal with Japan, including 15 percent baseline tariffs on most goods, including the automobile industry.
Under the deal, Japan will invest $550 billion in projects and maximize its purchase of U.S. agricultural goods, including soybeans, corn, and commercial aircraft.
The deal had been made in Japan, but was finally signed after weeks of negotiating. Under that agreement, it included 75 percent higher imports of U.S. rice and $8 billion worth of agricultural products, according to MSN.
Story via Annik Bao with MSN
Related Stories
The August WASDE shows tighter corn and wheat stocks, larger soybean production, and continued pressure on several livestock markets.
The latest USDA WASDE report could move grain markets with updated estimates for corn, soybean, and wheat production, ending stocks, and demand.
Corte Argentino USA recalled nearly 30,000 pounds of raw beef produced between May 15 and May 20 and distributed in Texas and Florida, according to the USDA’s Food Safety and Inspection Service.
Wheat inspections climbed 24 percent for the week as corn remained above year-ago levels.
Higher production and exports continue providing an important source of demand for U.S. corn.
Agriculture is increasingly connected to markets around the world, making international trade a critical factor for farmers and ranchers.