US Sorghum Sales to China Surge

February 11, 2014 | Commerce

This week's U.S. Grains Council Chart of the Week shows that U.S. sorghum sales to China have surged in the current 2013/2014 marketing year that began Sept. 1, 2013, up from zero last year to more than 1.6 million metric tons (62.9 million bushels) of combined exports and outstanding sales this year through Jan. 24. U.S. sorghum exports and outstanding sales to Japan also are up this year – from 91,700 tons (3.6 million bushels) last year to 270,400 tons (10.6 million bushels) this year. 

China provides a new opportunity for U.S. sorghum sales partly because of access barriers to U.S. corn in China. Although China's domestic corn prices are well above world market levels,...

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Latin America Economic Powers Sign Trade Pact

February 11, 2014 | Commerce

CARTAGENA, Colombia (AP) — The presidents of four nations collectively responsible for half of Latin America's economic output have signed an accord to eliminate tariffs on 92 percent of the products they trade.

The presidents of Colombia, Chile, Mexico and Peru signed the accord in Cartagena, Colombia, on Monday. Together they form the nearly two-year-old Pacific Alliance.

The accord is expected to take effect next year after approval by institutions within the member nations. Tariffs on agricultural goods such corn and beef will be gradually reduced.

The four partners count 212 million inhabitants among them and their economies are worth a combined $2 trillion a year.

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