The U.S. and Russia reached a bilateral market access agreement concerning Russia's entry into the World Trade Organization (WTO). According to the U.S. Trade Representative, the agreement will continue the 2003 Bilateral Meat agreement, which covered beef, pork and poultry, through 2009. The tariff commitments will benefit food processors of wheat, corn, barley, apples, pears, grapes, raisins, almonds, walnuts, pistachio nuts, dairy, soybeans, soybean meal, soybean oil, pet food, pork, beef and poultry, once Russia joins the WTO. Russia imports about $1 billion in U.S. ag products.
-- P. Scott Shearer, Washington, D.C., correspondent