There was a lot of news on the trade front this week. The U.S. and China are again saying they reached an agreement in principle on Phase 1 of a trade deal that includes big purchases of U.S. farm products and other ag goods. And the White House and Congress finally reached an accord on the U.S.-Mexico-Canada Agreement (USMCA), sending this long-stalled measure on its way to passage. USDA also updated its balance sheet this week, though that was a pretty ho-hum report.
We have it all covered in this week’s letter. Download it here.