Vilsack and Ritz will attend G20 meetings

May 06, 2015

Agricultural Ministers Meeting will take place in Istanbul, Turkey

United States Agriculture Secretary Tom Vilsack will join 19 of his colleagues at the G20 Agriculture Ministers Meeting scheduled to take place from May 7^th – 8^th in Istanbul, Turkey.

"The G20 ministerial provides an important platform for agricultural leaders to discuss efforts to improve food security around the world," said Vilsack. "From the U.S. perspective, reducing post-harvest loss and food waste play a major role in this effort. We also believe that nations must acknowledge the important role that science plays in increasing crop production and the role that open, rules-based trade can play in growing economies and fostering food security in the face of a changing climate."

Secretary of Agriculture Tom Vilsack

After the G20, Vilsack will make his way to Amman, Jordan, to take part in signing a government-to-government food assistance agreement.

The G20 supports international economic cooperating and decision making. It consists of 19 countries and the European Union. The G20 is responsible for about 85% of the global GDP, over 75% of global trade and about two-thirds of the world’s population.

One of the other countries that will be represented at the G20 is Canada.

Minister of Agriculture Gerry Ritz

Canada’s Minister of Agriculture Gerry Ritz will attend the meetings with the hopes of building on the relationships formed by some legislation including the Canada-Korea Free Trade Agreement. Ritz will also hold meetings with other agriculture ministers to improve Canada’s agricultural standing other countries.

"Agricultural trade and innovation are fundamental for economic growth and global food security,” said Minister Ritz. “Our Government believes in the ongoing importance of cooperative efforts through the G20 to promote global growth and prosperity.”

Join the conversation and tell us the kind of news you’d like to hear come out of the G20 Agricultural Ministers Meeting.

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.