Agriculture Shorts

Last week, President Trump signed three proclamations under Section 338 of the Tariff Act to impose additional 50% tariffs on Canadian imports of dairy, alcohol, and cars. The additional tariffs will take effect Aug. 19 but will not apply to energy or potash . . . Bayer (Monsanto) is withdrawing its request to impose countervailing duties on glyphosate imports from China . . . The USDA is expected to launch an Agricultural National Science & Technology Challenge which will ask universities and stakeholders to help build new AI tools that can translate germplasm and other data so scientists can spot plant and seed traits that are more resilient and productive . . . The Livestock Marketing Information Center’s (LMIC) latest estimated return for a cow-calf operation in the southern plains is around $1,100 per cow for this year compared to the nearly $900 per cow in 2025 . . . The Economist reported that analysists with Goldman Sachs said oil prices could climb to $120 a barrel by the end of the year unless there is a swift end to the disruption in the Strait of Hormuz . . . The USDA estimates the number of beef cows in the U.S. on July 1 was 28.5 million head, down 1% from a year ago. Beef replacement heifers are estimated at 3.80 million head, up 3%, and the 2026 calf crop is estimated to be down 2%.