Category Archives: Trade

WTO Launches New Trade Monitoring Database

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WTOThe WTO launched a new trade monitoring database, which provides detailed information on trade measures implemented by WTO members and observers since October 2008. The database can be accessed through the WTO website.

The trade policy data is taken from the regular trade monitoring reports prepared by the WTO Secretariat. All information is submitted to the relevant WTO member for confirmation; if not confirmed, this is clearly indicated within the database.

The database will be updated each time a new trade monitoring report has been discussed by WTO members. The most recent update was completed on 15 October 2012. The next is expected at the end of July 2013.The information contained within the database can be displayed in a number of ways, including by implementing country, by country affected by the measure, by type of measure, and by products affected.

Ag Organizations Applaud Six Countries

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fas_logoKey members of the U.S. agricultural value chain have joined together to applaud the work of the United States and like-minded governments to promote the importance of science-based regulations to facilitate trade of agricultural commodities derived from agricultural biotechnology.

In a joint statement, the United States was joined by the governments of Argentina, Australia, Brazil, Canada and Paraguay to announce their intention to work collaboratively to remove global barriers to the trade of agricultural biotechnology and promote science-based, transparent and predictable regulatory approaches.

The U.S. agriculture sector agrees that a particular area of concern is the timeliness and efficiency of global regulatory systems. In the joint statement, the like-minded governments have highlighted their intention to promote synchronization of authorizations by regulatory authorities – in particular for food, feed and processing purposes.

US and China Seed Groups Sign MOU

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Leaders from the American Seed Trade Association (ASTA) and the China National Seed Association (CNSA) signed an historic Memo of Understanding today to promote cooperation relating to innovation in the seed industry, said ASTA president Andrew W. LaVigne.

“This agreement achieves two extremely important goals,” said LaVigne. “First, it is an important first step in providing new business opportunities for the world’s two largest seed industries; and second, it will ultimately work toward increased farmer productivity.”

The MOU reflects both parties’ desire to promote mutual interests through cooperation, information exchange and training in the areas of intellectual property rights, quality seed, science-based phytosanitary measures, seed movement and innovation in the seed industry on the basis of equality and mutual benefits.

Listen to remarks from ASTA Chairman Blake Curtis and several members at MOU signing: ASTA-China MOU Signing

Listen to Brownfield’s Meghan Grebner interview with Andy LaVigne on MOU: Andy LaVigne Interview

ASTA-CSS Photo Album

NPPC Talks Trade Agreement With EU

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Trade and pork exports were among the topics addressed by the National Pork Producers Council during Trade Talk at National Association of Farm Broadcasting convention. Nick Giordano, Vice President and International Trade Counsel for NPPC, sat down with me to discuss NPPC’s role in protecting US pork producer’s interests both inside the US and abroad.

“National Pork Producers Council is often at the tip of the spear on trade issues because trade is so important to pork producers. We’ve been working closely with other agricultural groups for example, potential trade talks that might get started with European Union. We want to make sure as a threshold issue that pork and other food in ag products are included within the scope of the discussions.”

A coalition of U.S. food and agricultural organizations, led by the NPPC, sent a signed letter yesterday to the Office of the U.S. Trade Representative, stating it is important that any FTA with the EU be comprehensive and address impediments to trade in agricultural products.

“Carried out properly,” wrote the coalition to U.S. Trade Ambassador Ron Kirk, “a U.S.-EU FTA would generate economic growth and create many thousands of new jobs on both sides of the Atlantic.”

The EU’s past FTAs have excluded agricultural goods it produces, and its regulatory measures often conflict with World Trade Organization rules, including regulations on “genetically modified” crop approval and labels, which restrict U.S. corn, soy and refined corn product exports, and on production methods in poultry, beef and pork.

Listen to my complete interview with Nick here: Nick Giordano - NPPC

2012 NAFB Convention Photo Album

Farm Bill’s Effect On US Grains

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You may believe the farm bill doesn’t effect you, but you might be surprised to find out that it covers more than you think. It was a hot topic during National Association of Farm Broadcasting’s Trade Talk. While sitting down with U.S. Grains Council’s President and CEO, Tom Sleight, I was reminded how intricate this farm bill is.

“It’s an interesting dilemma for us. The farm bill is not well known and one reason to get the farm bill moving. Public/private partnerships between US Grains Council take checkoff dollars and match that with business contributions. Thats matched again by USDA funding. That USDA funding was no longer authorized when the farm bill lapsed on October 1. So, we are working very closely with USDA to keep our offices open as long as we can. If the farm bill doesn’t get passed we might be forced with furlowing employees and closing offices come sometime in February.”

Tom said we need to talk more openly about the importance of trade to US agriculture. Many people don’t realize this public/private partnership funding is included in the farm bill.

The US Grains Council is partnered with 29 different checkoff entities for corn, sorghum and barley throughout the United States. But also with around 100 agribusinesses and grain exporting companies. These groups all have the common interest of making trade work around the world.

Listen to my complete interview with Tom here: Tom Sleight - US Grains Council

2012 NAFB Convention Photo Album

Farm Foundation Workshop to Focus on Free Trade

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Free trade agreements between the United States and South Korea, Colombia and Panama could mean big growth for U.S. animal products. To help you better understand implications of these agreements, our friends at Farm Foundation are hosting a two-day workshop, Sept. 27-28, 2012, entitled “Emerging Issues in Global Animal Product Trade: Assessing the Effects of Free Trade Agreements on Global Meat, Poultry and Dairy Trade,” at the USDA’s Economic Research Service (ERS) office in Washington, D.C.

“By eliminating trade barriers, free trade agreements are changing the landscape of the animal products import and export market,” says Sheldon Jones, vice president of Farm Foundation, NFP. “This workshop will highlight ongoing research to examine potential challenges and opportunities for trade in animal products, as well as to identify issues where more information is needed.”

The free workshop brings together experts from the government, private industry and several agriculture groups. More information and registration (space is limited) are available through this Farm Foundation website.

Pork Export Market Opportunities

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“Trade Policy for a Dynamic Pork Industry” was the topic for one of the first presentations at the Boehringer Ingelheim Vetmedica Swine Health Seminar. Our presenter was Laurie Hueneke, National Pork Producers Council.

During her presentation Laurie provided an overview of what the trade situation is for the industry in various regions and countries around the world. I spoke with her afterward. She says the growth opportunities for the industry include the ability to continue to export and access markets by reducing barriers. This includes China which has a lot of potential. Japan and Mexico continue to be good markets for us.

You can listen to my interview with Laurie here: Interview with Laurie Hueneke

I finally got all my photos uploaded. Please feel free to view and share: 2012 BIVI Swine Health Seminar Photo Album

What’s New With Wheat

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Caught up with the execs of the National Association of Wheat Growers and U.S. Wheat Associates at the 2012 Commodity Classic to find out what’s new with wheat.

What’s really new for NAWG is a brand new scholarship program with BASF just announced at the Classic, and CEO Dana Peterson says they are happy about the scholarship but sad about the circumstances that brought it about. “We are pleased to join with BASF to honor a longtime friend of wheat, Mr. Jerry Minore. He passed away just recently from a sudden illness and we were sorry to see him go,” Dana said.

Because Jerry just passed away less than a month ago, the details on the scholarship are still being developed, but Dana says they will be announced soon and available on the NAWG website.

Dana says they are thrilled with the record turnout of over 6,000 producers at Classic this year and pleased to celebrate their fifth year being one of the commodity groups that join together for the event.

Listen to my interview with Dana here: NAWG CEO Dana Peterson

I also spoke with U.S. Wheat president Alan Tracy at the wheat industry booth and he told me how excited they are about export opportunities in Asia, noting that they just celebrated their golden anniversary in Philippines. “In Asia, we continue to do very well,” he said. “I just returned from the Philippines where we celebrated the 50th anniversary of our having an office there in Manila.”

Alan says the Philippines have become at least the 5th largest market for U.S. Wheat. “This year it’s going to be 95% of their wheat comes form the United States,” Alan said, adding that the export market makes up about half of the U.S. crop in a given year.

Listen to my interview with Dana here: US Wheat President Alan Tracy

2012 Commodity Classic Photo Album

Coverage of the 2012 Commodity Classic Show is sponsored by BASF and New Holland

New Holland Tractor Goes to Charity Auction Signed by President Bush

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Jay Leno’s Lil Tug going to auction with President George W. Bush’s signature on it! Here’s a photo of the sighing on his ranch from his Facebook page.

Talk show host Jay Leno used it in his famous Garage. Former President George W. Bush put his signature on it. And this Saturday, January 21, it will go on the auction block as part of New Holland Agriculture’s “True Blue Salute” program in support of veterans.

‘Lil Tug, the New Holland Boomer™ tractor that’s been working hard in Jay Leno’s Garage the past five years, will be auctioned off at the famed Barrett-Jackson Collector Car Auction in Scottsdale, AZ, on Saturday evening – with all proceeds going to the Fisher House Foundation, best known for its network of homes built on the grounds of major military and VA medical centers where families can stay while their loved ones are receiving treatment.

The auction will be broadcast live on SPEED TV, with the ‘Lil Tug scheduled to go on the block Saturday at 7:30 p.m. Mountain Time (8:30 p.m. CT/9:30 p.m. EST).

The tractor auction marks the culmination of New Holland’s “True Blue Salute” program, which launched on Veterans Day in November and continues through Saturday – offering U.S. veterans and military personnel a $300 discount on the purchase of New Holland Boomer™ compact tractor models 30, 35, 40 or 50 purchased in North America. New Holland is also donating $100 to the Fisher House Foundation for every Boomer compact tractor sold in North America during the discount period.

In the days leading up to the auction, ‘Lil Tug (as Leno’s crew nicknamed the tractor) has been getting publicity in a variety of places, including:

Meeting Growing Export Demand

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At the recent NAMA Trends in Agriculture conference one of our panel discussions featured Tom Dorr, U.S. Grains Council. The panel topic was “Meeting the Growing Demand for Exports for Trade.” Thanks to Paulsen Marketing for supplying this video clip with Tom.

Much of American agriculture is dependent on international trade. What does this mean for the future if the ag industry in our country? NAMA Trends in Agriculture explored that issue with a panel that included Tom Dorr, the President and CEO of the U.S. Grains Council. Dorr shared his thoughts on what solid export policy for the U.S. should look like.

Agriculture Groups Praise Passage of Trade Pacts

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Agricultural interests have been trying for nearly five years to get Washington to act on three free trade agreements and finally in just over a week they have been sent to Congress and passed by significant majorities.

The trade agreements with South Korea, Panama and Columbia were each voted on separately and passed in rapid succession Wednesday, first by the House and then by the Senate. The votes in the House were 278-151 for South Korea, 300-129 for Panama and 262-167 for Colombia. In the Senate, it was 83-15 for South Korea, 77-22 for Panama and 66-33 for Colombia. The president is expected to sign them.

Farm groups were quick to praise the long-awaited action that is expected to mean increased exports for a variety of agricultural commodities.

“The three free trade agreements with Korea, Colombia and Panama provide great opportunities for America’s farmers,” said National Corn Growers Association President Garry Niemeyer of Illinois, adding that U.S. farmers have been standing by watching other nations receive increased access to these markets as the FTAs waited in limbo.

National Cattlemen’s Beef Association (NCBA) President Bill Donald of Montana was pleased to see Congress put differences aside to pass the trade deals. “For too long, the trade agreements have been collecting dust,” he said, noting that cattlemen have a lot to gain when the agreements are fully implemented by reducing and eliminating import tariffs on U.S. beef imposed by Colombia (80 percent), Panama (30 percent) and South Korea (40 percent).

Pork producers also have much to gain under the agreements, according to National Pork Producers Council president Doug Wolf of Wisconsin who called passage of the FTAs “one of the greatest victories ever for the U.S. pork industry” since it is expected to add more than $11 to the price producers receive for each hog marketed.

Agriculture Secretary Tom Vilsack says passage of the agreements means over $2.3 billion in additional exports for American agriculture as a whole. “Immediately upon implementation of these agreements, the majority of American products exported to Korea, Colombia and Panama will become duty-free,” said Vilsack. “With record agricultural exports supporting more than a million jobs here at home, passage of these deals will contribute to a positive U.S. trade balance, create jobs, and provide new income opportunities for our nation’s agricultural producers, small businesses, and rural communities.”

The only question is, what took so long?

Trade Agreements Finally Moving for Real

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After more than four years in limbo, trade agreements with South Korea, Colombia and Panama have finally been sent to Congress by the White House and could be voted on by next week.

“The series of trade agreements I am submitting to Congress today will make it easier for American companies to sell their products in South Korea, Colombia, and Panama and provide a major boost to our exports,” President Obama said in a statement.

Agriculture Secretary Tom Vilsack said completing the agreements “will level the playing field and secure markets for America’s farmers, ranchers, growers and producers ahead of competitors in the global marketplace.”

Once the agreements were turned loose by the president, agricultural organizations immediately began calling on Congress to end the wait and pass them. “America’s farmers and ranchers have much at stake and the fact these three agreements are moving forward is very good news for our economy,” said American Farm Bureau Federation president Bob Stallman. “Combined, the three FTAs represent nearly $2.5 billion in new agriculture exports and would create the economic growth that could generate support for up to 22,500 U.S. jobs. These gains will only be realized if the three agreements are passed by Congress and implemented.”

National Cattlemen’s Beef Association (NCBA) President Bill Donald welcomed the news but cautioned that the agreements are far from implemented.

“Today marks the biggest leap forward we have seen in nearly five years when the trade pact with Colombia was signed,” said Donald. “Our entire country, especially rural America, is nearing a historic moment.”

Donald said cattlemen “will not rest easy until the agreements are fully implemented.”

Tweet the White House About US-Korea FTA

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The US-Korea FTA Business Coalition is tweeting the White House for free trade this week.

The coalition is sending out messages on Twitter this week during the “White House Office Hours on the American Jobs Act” to address the importance of the US-Korea FTA and other pending trade agreements in creating American jobs and they are urging other supporters to do the same. You can use the hashtag #WHChat to ask your questions on President Obama’s speech and the American Jobs Act, and senior staff will respond to your questions in real-time via Twitter from the @WHLive account.

The Coalition itself is tweeting one specific message – “Pres. Obama, will you pass pending #FTAs to create US #jobs before US companies get shut of foreign markets? #WHChat @whitehouse” – and encouraging others to retweet it, but you could certainly come up with your own questions. The president did mention free trade in his address to Congress last week on jobs even though he has not yet formally submitting the pending FTAs to them for consideration.

“Now it’s time to clear the way for a series of trade agreements that would make it easier for American companies to sell their products in Panama and Colombia and South Korea -– while also helping the workers whose jobs have been affected by global competition,” the president said. The White House is reportedly waiting on an extension of an expired program that provides aid to workers displaced by foreign competition.

U.S. farmers and ranchers are highly supportive of moving forward with all the trade agreements, which have been languishing for years now. USDA estimates that the agricultural exports results from the FTAs will yield over $2.3 billion in sales and help support more than 19,000 American jobs in agriculture and related industries. According to the National Cattlemen’s Beef Association says, just the agreement with South Korea alone could result in a more than $1 billion market for U.S. beef once fully implemented.

So, tweet the White House this week during one of the times listed below and ask these guys why the president is holding up the agreements. The upcoming Office Hours scheduled for this week are:
Tuesday, September 13th:
5:30 p.m. EDT: Office Hours with David Plouffe, Assistant to the President and Senior Advisor
Wednesday, September 14th:
4:00 p.m. EDT: Office Hours with Brian Deese, Deputy Director of the National Economic Council
Thursday, September 15th:
4:00 p.m. EDT: Office Hours with Jason Furman, Principal Deputy Director of the National Economic Council

Pork Producers Talk Issues at Pork Expo

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National Pork Producers Council leaders conducted the traditional first day World Pork Expo press conference this morning to discuss issues of importance to the industry.

Among the bigger issues is expanding international markets for U.S. pork by getting Congress to pass the three pending free trade agreements with Korea, Colombia and Panama. “We need new and expanded markets,” said NPPC immediate past president Sam Carney of Iowa. “These FTAs combined would add more than $11 to the price producers receive for their pigs and would generate about 10,000 U.S. jobs.”

Carney says they hope to get the FTAs passed before summer recess or right after. “We’re frustrated but yet we’re hopeful we’re gonna get it done,” he said.

Press conference audio from Carney: NPPC past president Sam Carney

2011 World Pork Expo Photo Album

AgWired coverage of the 2011 World Pork Expo is sponsored by NOVUSAgWired coverage of the 2011 World Pork Expo is sponsored by boehringer-ingelheim

Ag Groups Call For Trade Agreement Approval

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Since May is both World Trade Month and National Beef Month, it was appropriate for the National Cattlemen’s Beef Association (NCBA) to host a news conference on Capitol Hill today urging the Obama administration to send pending free trade agreements with Colombia, Panama and South Korea to Congress immediately.

NCBA was joined by the American Farm Bureau Federation (AFBF), American Soybean Association (ASA), National Association of Wheat Growers (NAWG), National Corn Growers Association (NCGA), and National Pork Producers Council (NPPC). NCBA President Bill Donald started it all off by saying that the pending trade agreements are long overdue and the unprecedented delay is putting U.S. agriculture at a competitive disadvantage.

“Members of Congress, prepare your yes votes and push all three of these agreements across the finish line,” Donald said. “This is a powerful stimulus package for the American people, a stimulus package that will not cost the American taxpayers one damn dime.”

To put in perspective how long the trade agreements have been sitting on the shelf, NAWG CEO Dana Peterson noted that Twitter was just a baby, and that babies born when they were signed are entering kindergarten.

Here are opening statements from the conference: Ag Trade Press Conference

Lots of Trade Talking This Week

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Since May is World Trade Month, you would think it would be a great time for Congress to pass those pesky pending Free Trade Agreements with Korea, Colombia and Panama that have been awaiting approval for years. Several of the nation’s largest agricultural organizations who testified before the House Agriculture Committee this week on why it is so important to get those agreements operating think so. Actually, most would say that last May World Trade Month would have been better!

Among those testifying was National Cattlemen’s Beef Association president Bill Donald of Montana. “Each day that goes by without implementing these agreements is another day we risk losing American jobs by losing market share to other countries. With 96 percent of the world’s consumers living outside of the United States, future growth of the U.S. economy depends upon our ability to produce and sell products competitively in the global marketplace,” said Donald. May is also National Beef Month, coincidentally.

National Corn Growers Association CEO Rick Tolman told the committee that passing the FTAs and developing new markets for our country’s agricultural products will help our sector lead the nation in economic growth and international competitiveness. “The United States is the largest corn producer and exporter in the world, and exports of corn and corn co-products are essential to producer income,” Tolman said. “Our members want to maintain current export markets and significantly increase demand for corn through opportunities in value-added corn products.”

The committee also heard from American Farm Bureau Federation president Bob Stallman, which you can see on the AFBF website. “These trade agreements are not only important to the bottom line of America’s farmers and ranchers but the economic health of our rural communities and the overall U.S. economy,” said Stallman. “There is a long supply chain made up of American workers who get products from the farm gate to foreign consumers.”

Agriculture Secretary Tom Vilsack also noted the importance of the FTAs for jobs in this country. “”These three trade agreements will create jobs. Through agricultural exports alone, they will yield over $2.3 billion in sales and help support more than 19,000 American jobs in agriculture and related industries,” said Vilsack.

Some progress has been seen recently on moving the FTAs forward and U.S. Trade Representative Ron Kirk indicated to the committee that all three agreements will be submitted to Congress with a view to having them considered this year.

Washington Watch Wrap Up

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This week was the National Association of Farm Broadcasting’s Washington Watch meeting in our beautiful Nation’s Capitol.  It definitely was an interesting time to be in DC after the events of last weekend.

Washington Watch gives NAFB members an opportunity to sit down with folks inside the Beltway and get an update on some of the major issues of concern to agriculture.  After Monday’s meetings broadcaster’s had a chance to delve deeper into the hot topics during Issues Forum.

Tuesday we visited USDA where we heard from Secretary of Agriculture Tom Vilsack.  He touched on topics from the lack of planting progress this spring to the heartbreaking Birds Point New Madrid levee.  I think one of the most important items addressed was the decision to allow crop insurance protections for those affected by the Birds Point New Madrid levee situation (see Cindy’s post earlier this week).  We wrapped up Tuesday with a luncheon at the National Press Club with Former Secretary of Agriculture and Former Representative Larry Combest.  Tuesday afternoon left time for some Hill visits.  I had the opportunity to chat with my Representative, Aaron Schock, and his staff.  It’s always a good feeling to leave discussions with the confidence that the agriculture industry is in good hands.  Wednesday morning concluded with visits from several of ag’s biggest supporters in the Longworth Building.

One of the most touched on topics in DC this past week was the issue of trade.  I had the chance to speak with American Farm Bureau Federation’s Trade Specialist Chris Garza about the current pending free trade agreements.

Garza thinks there is light at the end of the tunnel…

Garza on Trade

Agriculture Excited About Colombia Free Trade News

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It’s taken over four years to get to this point, but some action is finally happening on the Colombia Trade Promotion Agreement (TPA) and U.S. agriculture interests are thrilled.

President Obama announced today that an agreement has been reached on the deal that was signed by the U.S. Trade Representative and the Colombian trade minister on Nov. 22, 2006. The agreement will now be sent to Congress to ratify. It is estimated that the Colombia agreement could mean U.S. agricultural export gains of more than $815 million per year at full implementation.

According to a USDA Fact Sheet, a variety of agricultural commodities would benefit from the Agreement, as more than half of current U.S. farm exports to Colombia will become duty-free immediately, and virtually all remaining tariffs will be eliminated within 15 years. “Colombia will immediately eliminate duties on wheat, barley, soybeans, soybean meal and flour, high-quality beef, bacon, almost all fruit and vegetable products, wheat, peanuts, whey, cotton, and the vast majority of processed products. The Agreement also provides duty free tariff rate quotas (TRQ) on standard beef, chicken leg quarters, dairy products, corn, sorghum, animal feeds, rice, and soybean oil.”

National Cattlemen’s Beef Association (NCBA) President Bill Donald said it’s essential for the U.S. to take aggressive measures to expand market access for agriculture to stimulate the economy and feed a growing global population. “The cattle industry can breathe a sigh of relief today as the Colombia agreement finally gets the long overdue attention it deserves,” said Donald. “This agreement has collected dust for well over four years while our trade competitors proactively sign, seal and deliver trade pacts.”

American Farm Bureau Federation President Bob Stallman says the development is just what a group of Farm Bureau leaders has been pushing for the last two weeks during a visit to Colombia and Panama. “After meetings this week and last with farmers, ranchers and agricultural leaders from Colombia, we know this is a development welcomed by all sides. Trade will help the United States build stronger bonds with our Latin American neighbors, and it makes sense given our advantage of proximity and history of cooperation.”

The National Corn Growers Association says the Colombia FTA would provide immediate access for U.S. corn growers to Colombia’s roughly 2.1 million metric ton market for corn at zero percent duty. “Colombia has traditionally been one of the Top 10 export markets for U.S. corn,” NCGA President Bart Schott said. “This is an important market for U.S. farmers and we do not want to watch this market slip away to our largest competitors.”

National Pork Producers Council President Doug Wolf says the agreement will increase U.S. pork exports to the South American country by $68.9 million and help create 919 U.S. pork industry jobs. “We must implement our pending FTAs to remain competitive,” Wolf said. “Pork producers also support the Korea and Panama FTAs and urge the administration to send them to Congress to be approved by this summer.”

Catching up with a Former Ag Secretary

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Prior to the start of the 2011 Commodity Classic in Tampa, Bayer CropScience held its annual Ag Issues Forum featuring a number of prominent experts in the areas of trade, policy, finance and environmental issues.

2011 commodity classic clayton yeutterOne of those experts was an old friend, former Secretary of Agriculture and U.S. Trade Representative Clayton Yeutter, who is pictured here with Bayer CropScience executives Mike Deall and Alan Ayers. It’s been a couple of decades since I had the opportunity to interview Clayton, so it was a real treat to spend a few minutes with him to get his thoughts on agriculture and trade policy, 2011 and beyond.

His remarks to the agricultural journalists centered on how we keep American agriculture profitable in the future. “The key to that really is the international side,” he said. “Basically, what’s happening in Asia today is an absolute explosion in demand for food, for example.”

The former USTR, who is still very much involved in global trade issues as the Senior Advisor for International Trade with the law firm Hogan Lovells, said it is important for the U.S. to approve the pending trade agreements with Columbia and Korea. “The present administration has been sitting on these agreements for two solid years now because they haven’t wanted to challenge the labor unions who don’t like them,” he said. “At some point, the president has to exercise some leadership and say ‘enough is enough – I want to get these agreements approved and I’m going to send them to Congress. Vote for them!’”

Yeutter also talked about how agriculture might fare in the upcoming Farm Bill debate, gave some thoughts on the ethanol issue, and said he is excited about the future for U.S. agriculture. “From the demand perspective, we’ve never seen it this good, globally,” he said. “Only five percent of the people in the world are in the U.S., the other 95 are outside. And fortunately for U.S. agriculture, a lot of those folks are in a position to buy food – way more today than when I was secretary of agriculture 20 years ago!”

Listen to or download my conversation with Clayton Yeutter here: Clayton Yeutter Interview

We will be starting to upload photos from Classic soon and coverage of the entire event is just beginning – so stay tuned!

Big US-Chinese Soybean Deal Signed

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usbAs the president of China was flying in for a quick visit to the Windy City on Thursday, representatives from China’s 10 largest soybean crushers were signing agreements to purchase 110 million bushels of U.S. soybeans during a ceremony held in Chicago. The purchase is worth $1.8 billion and more bushels are expected to be committed tomorrow. A similar purchase agreement ceremony in 2008 was largest reported single-day export sale of U.S. soybeans in history, but this buying event – which may be larger – was split into two days.

“This is a huge event for soybean farmers, this isn’t something that happens everyday,” said Jim Call, United Soybean Board International Marketing chair and a soybean farmer from Minnesota. “We’ve had an office in China for over 25 years now. It just goes to show that our checkoff commitment for that long a period of time has really paid off.”

Soybean users in China, which purchased 825 million bushels of U.S. soybeans during the most recent marketing year, are the largest international customers of U.S. soy. The country currently imports one out of every four rows of soybeans grown by U.S. soybean farmers. “Every other row of soybeans we raise in the United States is exported and as we increase yields, any additional bushels will have to be exported, too,” Jim said.

Representatives from the Chinese companies said that they are pleased with the quality of U.S. soybeans, which they are purchasing in the form of both whole beans and soybean oil.

USB held a teleconference following the signing, which was in a room with a lot of background noise but there are some usable sound bites in here from Jim Call and the interpreter for Deng Haotian, representative from Sinograin. Here is the edited version for your listening or downloading pleasure: USB China Teleconference