The New Trade Deal Provides Relief for American Farmers
- Corn futures jumped the most since March, hogs extended gains
- Trade agreement has removed some demand risk, CoBank says
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After months of negative news, American farmers rejoiced as the U.S. finally secured a trade deal with both Canada and Mexico.
The pact comes just as U.S. growers are harvesting mammoth corn and soybean crops and domestic meat production balloons. The outlook for big supplies combined with trade tensions, especially with China, had sparked a prolonged rout for agriculture markets.