According to a recent report from the USDA, China’s corn imports jumped to a record 11.3 million metric tons in 2020, more than twice the volume imported in past years.
Brazil’s macroeconomic policies — currency devaluation, in particular — have played an important role in its position as one of the top exporters of agricultural products, including soybeans, corn, cotton, sugar, coffee, orange juice and meat.
U.S. agricultural exports to China are projected to total $13 billion in fiscal year (FY) 2020, up from $10.1 billion in fiscal year 2019. This rise in expected exports is primarily due to growth in Chinese purchases of U.S. soybeans and pork with expected additional purchases of sorghum and cotton also playing a role.
“The 2019 farm economy is going to be influenced by several ongoing issues. Those include the global trade war; strong U.S. and world economies; favorable 2018 weather with record crop yields; and a new farm bill covering the 2019 to 2023 crops,” says Chris Hurt, professor of agricultural economics and editor of the Purdue Agricultural Economics Report: 2019 Agricultural Outlook.
It's hard to believe how much grain needs to be shipped down the Mississippi River to keep the massive elevators in New Orleans working at full capacity. If we're going to double yields over the next few decades, we've also got to invest in new facilities to get these valuable grains to market around the world.
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The announcement of a partnership between New Holland and Bluewhite was one of the big precision stories of the summer. West Coast New Holland dealers now have the rights to sell, distribute and service Bluewhite’s aftermarket autonomy kits.