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Positive News for Canadian Meat Exports - It was announced this week that effective immediately, China has reopened its border to Canadian beef and pork. Canadian export certificates were halted on June 25th, 2019 due to the discovery of fraudulent export certificates. Canadian beef exports to China must be Ractopamine free, frozen, boneless, and from animals under 30 months of age. Beef exports are subject to a 12% Chinese import tariff; the same as before the export ban ...
US Crop Report - The USDA released an updated crop production report today, and they continue to lower the expected average corn yield given the difficult growing and harvest season this year. The yield reduction was anticipated by the trade, but the USDA did not lower the harvested area as much as expected, and overall production came in slightly higher than the pre-report estimates at 13.66 billion bushels ...