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The U.S. agriculture industry has started talks with Donald Trump’s transition team in a bid to advocate for the sector as the president-elect pledges tariffs and mass deportations. Groups including the National Grain and Feed Association and the International Fresh Produce Association were among those involved in the discussions, people with the situation said. The National Council of Agricultural Employers also has a meeting scheduled. Some industry advocates are lobbying for the expansion of a visa program for temporary workers, and others want China to stick to crop purchases pledged during the Phase One trade deal negotiated by Trump in his previous term, the sources noted. One possible solution being touted by industry groups is convincing China to stick to the $50 billion a year in ag purchases it pledged during the Phase One deal, while also having the Asian country approve crop traits that would give U.S. supplies better access to the Chinese market. Railroad inspection delays at the border with Mexico and the European Union’s Deforestation Regulation are also among topics of interest for the industry.

According to the International Energy Agency, OPEC+ faces a sizable supply overhang, regardless of how long it holds back on increasing production. At the same time, non-member countries continue to pump crude at a record pace.Since mid-2023, OPEC+ economies have voluntarily reduced crude outflows to boost global prices.It hasn't worked, given a lackluster appetite to absorb international supply, which has been accelerated by non-OPEC production. Brent crude, the international benchmark, is down over 19% since peaking in the spring. Oversupply would rise to 1.4 million barrels per day in 2025 if OPEC+ follows through on plans to unwind quotas in April, the IEA said. Even if production cuts stay in place through all of next year, the agency expects an overhang of 950,000 barrels per day.

Brazil's chicken meat and pork production and exports are expected to grow in 2025, eclipsing records that were set this years, Reuters reported, citing projections released on Thursday by meat lobby ABPA. The South American country is the world's biggest chicken exporter as well as a top pork supplier. Brazil's chicken meat production is set to reach up to 15.3 million metric tons in 2025, growing as much as 2.7% on a yearly basis, while exports would hit up to 5.4 million tons, a 1.9% rise, ABPA said. For pork, production could be boosted by as much as 2% to 5.45 million tones next year, with shipments jumping up to 7.4% to 1.45 million tons, the group added. "Brazil's economic situation should keep consumption levels sustained in the domestic market, supported by the sector's continued competitiveness," ABPA head Ricardo Santin said in a statement. "On the external front, new markets are expected to be opened in Central American and African countries," he added.

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