USDA & USTR Say China Has Met 71% of 2020 Phase One Ag Purchase Target

On October 23rd, the Office of the United States Trade Representative (USTR) and the United States Department of Agriculture (USDA) released an Interim Report on the Economic and Trade Agreement between the United States of America and the People’s Republic of China. The report states, “Using the best methodology, we have calculated that China has purchased approximately 71 percent of its target for 2020. They have purchased $23.6 billion in agricultural products so far this year. This is substantially more than the base year of 2017, and should end up being our best year ever in sales to China. It is still to be seen whether they meet their target but particularly given the COVID-19 effects on the global economy they are making substantial progress. It is worth noting that the Phase One Agreement did not go into effect until February 14, 2020, and March is the first full month of its effect. That means that we have seen seven months of agreement sales.” See full report below.

Report here.

More Advocacy Issues

On June 17th, the Senate Agriculture Committee held a hearing in Committee Ranking Member John Boozman’s home state of Arkansas entitled, “2023 Farm Bill: Perspectives from the Natural State.” ACSA would like to thank American Cotton Producers (ACP) Chairman Nathan Reed for sharing his perspectives on important topics going into the next Farm Bill, including […]

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House Ag Discusses Climate

June 15th, 2022

On June 15th, the House Agriculture Committee held a hearing entitled “The Role of Climate Research in Supporting Ag Resiliency.” Please see link below for key takeaways provided by Delta Strategy Group. Takeaways here.

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On June 3rd, the Environmental Protection Agency finalized the blending requirements under the nation’s biofuel mandate. More information on the Renewable Volume Obligations under the Renewable Fuels Standard for 2020, 2021, and 2022 can be found in the link below. Highlights and Summary here.

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On June 2nd, the Commodity Futures Trading Commission (CFTC) held a roundtable titled “Voluntary Carbon Markets Convening.” Highlights and Summary here.

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On May 27th, Delta Strategy Group created a summary of the substantive comments regarding FTX’s proposal to amend its DCO registration to permit it to offer margin on cryptocurrency futures products in its non-intermediated model. More here.

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On May 25th, the Commodity Futures Trading Commission staff held a roundtable to consider the implication of a non-intermediated direct clearing model for digital asset derivatives. See the summary below for more information. More here.

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