For the 2014-2015 marketing year beginning Sept. 1, the report projects a seasonal average farm price of just $3.65 per bushel of corn–compared to $4.50 for the current year. In 2015-2016, the price drops further to $3.30 per bushel before beginning a slow but steady climb back up to $4.10-$4.20 per bushel by 2023 [...]
January volumes at the Port of Los Angeles and the Port of Long Beach were somewhat mixed.
Los Angeles kicked off 2014 with a 2.5 percent annual gain in January at 685,550 TEU. POLA imports, which are primarily comprised of consumer goods, hit 337,428 TEU for a 6.7 percent annual increase. Exports rose 1.7 percent [...]
From the Washington Post:
Despite the fact that woefully little attention has been paid to the deal by mainstream news outlets, liberals, unions and tea party groups — which dubbed fast-track “Obamatrade” — have created a groundswell of grassroots opposition to the TPP that seems to have been heard by enough lawmakers in Washington [...]
By country, the United States ran another record trade deficit with China: $318.4 billion for the year, an increase of 1 percent from 2012. The United States has recorded its largest trade deficit with China each year since 2000, when that country supplanted Japan as the nation with the largest trade imbalance with the [...]
Excerpts from The Nation:
The final iteration of the bill cuts $8 billion from food stamps, a key demand made by Americans for Prosperity, which aired advertisements and organized opposition to the initial Farm Bill because of the supposed waste of providing food assistance to needy families. Americans for Prosperity is controlled by the billionaire [...]
Ford Motor Co. (F) said it will oppose the Trans-Pacific Partnership if the trade agreement doesn’t limit a country’s ability to manipulate its currency.
The proposed pact “is not likely to generate any net benefits for American manufacturers if it does not address the critical issue of currency manipulation,” Joe Hinrichs, Ford’s president of the [...]
Harry Reid, who as the leader of Senate Democrats controls which legislation is brought up for a vote, said Wednesday that now was not the time to think about bringing a request for trade promotion authority to Congress. ”I’m against ‘fast track,’ ” he said. ”I think everyone would be well advised just to [...]
Until earlier this month, Japan had been under strong pressure from the U.S. to open its market as part of the highly contentious Trans-Pacific Partnership free trade negotiations. On Thursday, Japan appeared to be suddenly let off the hook.
U.S. Senate Majority Leader Harry Reid made clear his opposition to granting the Obama administration power [...]
Drewry said cash-strapped Hanjin Shipping has recently announced to its customers that it will be leaving two unprofitable trade lanes. The South Korean carrier will cease taking slots on the Asia‐Black Sea Express (ABX) service of China Shipping, Yang Ming and Wan Hai, and from April / May will pull out of the [...]
2013 proved to be the Port of Long Beach (POLB)’s third busiest year in its history in terms of cargo volume, behind record-setting years 2006 and 2007.
According to POLB, imports increased 12.8% over 2012 to 3,455,323 twenty-foot equivalent units (TEUs); exports increased 10.7% to 1,704,932 TEUs; and empties were up 8.8% to 1,570,318 TEUs [...]
Bishop Richard Pates
As the United States Congress discusses the Trans-Pacific Partnership, a trade agreement that potentially involves 13 nations, the chairman of two committees of the United States Conference of Catholic Bishops offered eight principles for consideration.
“While the USCCB does not take positions for or against particular trade agreements, we would like to [...]
China Shipping arrives at the Hanjin terminal in Busan.
China’s annual trade in goods passed the $4 trillion mark for the first time in 2013, official data showed Friday, confirming its position as the globe’s biggest trading nation.
Reports last February said the United States’ total trade in goods was lower than China’s in [...]
One of the only things that economists agree on regarding the North American Free Trade Agreement (NAFTA), which marked its 20th anniversary of being in effect on New Year’s Day, is that such trade pacts are a major contributing factor to growing U.S. income inequality. Obama is expected to dedicate much of his State [...]
This 1997 photo shows Gary Hefner, a local union president, standing in front of signs he put up after General Electric closed its plant in Hickory, NC, and moved it to Mexico. AP Photo.
Excerpts from an interview with Global Trade Watch Director Lori Wallach at BillMoyers.com:
NAFTA wasn’t just about trade. It [...]
Japan, Taiwan and South Korea want to ease rigid labor practices, which could introduce income inequalities in what are now solidly middle-class societies.
There is a last-minute rush by three advanced economies in East Asia to join the Trans-Pacific Partnership, a trade agreement that could be concluded this spring. Japan barely made the deadline to [...]