NASHVILLE, TENN. (RFD-TV) — There are new details on U.S. action in Venezuela and its impact on American agriculture. President Donald Trump says the South American nation is set to purchase several goods from the U.S. in the coming weeks.
In a post to social media, Trump said Venezuela will buy American ag products and will use the money from oil sales to make it happen.
Earlier this week, the White House said Venezuela will soon turn over between 30 and 50 million barrels of oil, shipping it directly to the U.S. From there, Trump says it will be sold at market price.
Aside from farm products, Venezuela will buy other U.S. goods, too, like medicines, medical devices, and infrastructure equipment.
Related Stories
USDA says total grain inspected for export reached 2.81 million metric tons for the week ending June 11.
The dairy industry is encouraged by potential H-2A reforms while supporting renewal of the USMCA.
Experts note that economic growth, fuel demand, and energy diversification are opening new opportunities for U.S. grain and ethanol exports in Southeast Asia.
Lewis Williamson with HTS Commodities joined us to discuss current crop conditions, USDA crop ratings, summer weather concerns, and the potential market impacts of developments in the Middle East.
