3 Big Things Today, January 2, 2020

Trading Set to Resume After New Year's; U.S.-China Deal Signing Date, Place Set

1. Trading Set to Resume After New Year’s Holiday

Normal trading on the Chicago Board of Trade will resume at 8:30 a.m. after closing for New Year’s Day.

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2. Trump Gives Date For U.S.-China Deal Signing; Canadian Consulate Says USMCA Benefits All

With the calendars turned to 2020, farmers are hoping it’s a year where they can focus on raising crops rather than worrying about trade deals after the U.S. agreed to a trilateral trade deal with Mexico and of course a phase one agreement with China.

It’s been a busy couple of days on the trade front.

President Donald Trump said Tuesday morning that he’d be signing the trade agreement with China on Jan. 15.

“The ceremony will take place at the White House,” he said on Twitter, his preferred form of communication. “High level representatives of China will be present. At a later date I will be going to Beijing where talks will begin on Phase Two!”

The South China Morning Post has reported that Vice Premier Liu He would be coming to Washington to sign the deal.

Liu led talks from the Chinese side and was present for much of the negotiations, so it’s fitting he would be there to put the finishing touches on the agreement.

White House Trade Adviser Peter Navarro said on CNBC that the deal with China is “in the bank.”

The U.S.-Mexico-Canada Agreement, or USMCA, was passed by the House after little debate and is expected to breeze through the Senate just as easily.

Ariel Delouya, the consul general at the Canadian Consulate in Minneapolis, told Forum News Service that the trilateral agreement is a boon for producers in all three countries and “reinforces the long-standing cooperation and partnership that exists between food processors, producers on both sides of the border.”

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3. Cold, Wet Weather Forecast in Northern Wisconsin, Light Snow Expected in Central Midwest

It’s winter in Wisconsin, which means cold, wet weather.

Light snow and freezing rain are expected in northern parts of the state today and tonight, according to the National Weather Service.

The wintry weather likely will continue on Friday night and snow and strong winds are forecast for Sunday, the NWS said in a report early this morning.

Some light snowfall also is expected in parts of northwestern Iowa, southwestern Minnesota, northeastern Nebraska and much of central South Dakota. Accumulation is expected to be less than a half-inch, the agency said.

Further south in the Texas Panhandle, a mix of rain and snow likely will fall today and tonight, though no accumulations are expected, the NWS said.

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