Market Confused by Harvey; USTR & Trump Agree on NAFTA
**The US commodity market may be in a state of confusion lately during this peak of hurricane season, probably due to lack of practice.
Before Hurricane Harvey, the last Cat 3 storm to hit the mainland was Ike in 2008, as opposed to 2005 when Katrina, Rita and Wilma hit.
The El Nino and La Nina weather patterns also influence Atlantic hurricanes. Right now, the opposite influences are at work, putting us in a La Nada or neutral period.
**U.S. Trade Representative Robert Lighthizer says he and President Trump are in full agreement on the NAFTA trade pact’s problems and believes the president will support any final modernization deal he negotiates.
Lighthizer, speaking to reporters after the close of five days of talks in Mexico City, tells Reuters that he considers Trump’s views in every decision in negotiations over the North American Free Trade Agreement.
**Ag Secretary Sonny Perdue is applauding President Trump’s selection of three individuals for key positions within the U.S. Department of Agriculture. The president announced Gregory Ibach as Under Secretary for Marketing and Regulatory Programs, Bill Northey as Under Secretary for Farm Production and Conservation, and Stephen Vaden as USDA’s General Counsel.
Perdue tells Successful Farming that he looks forward to the confirmations and urges the Senate to take up their nominations as quickly as possible. He says it is especially important given the challenges USDA will face in helping recovery efforts from Hurricane Harvey.