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USMCA Brightens Outlook for Soybean Industry

Posted: Tuesday, October 16th, 2018 at 6:25 am
Author: Brandon Shanahan - KCII News

The United States, Mexico, and Canada agreed to a new trade agreement that’s keeps the farming industry moving forward.

Grant Kimberley, Market Development Director of the Iowa Soybean Association said it’s a good thing to have in place, “Being that we’re a large soybean, corn, pork, and cattle producing state all of those products are going to benefit by having an agreement with Mexico and Canada… If we didn’t have an agreement we would probably see exports reduced.” The USMCA replaces NAFTA which was in effect for 24 years. “Iowa’s economy is export-dependent and this agreement will expand market access for our dairy, eggs and poultry producers.” according to Senator Chuck Grassley. The new trade agreement requires to be renewed by each country each six years otherwise it will expire in 16 years.