Corn, Cranberries, and China
The U.S. export market was a hot topic this week in the news. For our U.S. Export members, this is good news since a strong harvest and growing export demand is good for the market.
The U.S. Department of Agriculture said farmers will reap 14.578 billion bushels of corn in 2017-2018, up from its earlier estimate, thanks in part to a record yield of 175.4 bushels per acre. As a result, the USDA raised their export forecast. However, farmers and traders may be facing some heavy headwinds as the price of corn and soybean futures decline.
The WSJ reports that China is now the second largest export market for cranberries from the U.S. This is a welcome sign for cranberry farmers as 2017 cranberry production is predicted to be the second largest in history. Check out the article to explore how cranberry producers are driving this interest and the impressive 49% growth they are driving as a result.
In a JOC.com article, JD.com (China’s largest retailer) signed agreements to import 1.2B USD of meat to China over the next three years. This is especially big news for the beef market. Read the JOC.com article here to find out how big.
And finally, have you ever wondered how far your holiday turkey travels from farm to store?
This piece from SupplyChainDive.com on Thanksgiving Turkeys and the use of blockchain technology is so cool we just had to share it. Read the article here.