TPP And Great Crop Conditions
TPP . The Trans-Pacific Partnership includes 12 countries representing about 40% of the global economy. It was signed in February and most likely will go before a lame duck congress. The American Farm Bureau has said that agriculture will be the biggest beneficiary, yet there have been hurdles with dairy and pork getting on board TPP. U.S. Trade Representative Michael Froman was quoted in the WSJ as saying that the main outstanding issue was with intellectual property rights, with biologics, and pharmaceuticals .A recent Pew research survey conducted in March found that only half of Americans see a broad benefit from free trade and fewer than half thinks it has help them.
Crop conditions in the US remain excellent in a report from Brownfield Ag News. corn remains steady at 75 percent good to excellent. A quarter of winter wheat is harvested, catching up to the five year average of 28 percent for this time of year. Winter wheat remained steady for the past week at 61 percent good to excellent. Seventy-six percent of spring wheat is in good to excellent shape, down 3% from a week ago.