Latest News Summary
House Ag Subcommittee Reviews Farm Safety Net Issues
On Wednesday, the House Ag Subcommittee on General Farm Commodities and Risk Management discussed the Farm Bill, crop insurance, and ad hoc disaster programs in a meeting titled, “A Hearing to Review the Efficacy of the Farm Safety Net.”
Recent News Summaries
Farm Lending Remains Strong in 2020- American Bankers Association Report
A news release this week from the American Bankers Association (ABA) stated that, “Despite the global economic slowdown in 2020 due to COVID-19, total agricultural lending by U.S. farm banks remained strong at $98.6 billion, decreasing by only 1.8% from…
China’s Pig Population at Near Normal Levels After ASF, Chinese Hog Producers Urged to Not Panic Amid Low Prices
Bloomberg News reported this week that, “China’s hog population rose 24% in the year through May and has now almost fully recovered from the recent resurgence in African swine fever, according to the country’s agriculture ministry.”
U.S. Refiners Accumulate $1.6 Billion Shortfall in Biofuel Credits, as Biden Administration Weighs RFS Volume Cuts
Late last week, Reuters writers Jarrett Renshaw and Stephanie Kelly reported that, “U.S. merchant refiners have amassed up to a $1.6 billion shortfall in the credits they will need to comply with U.S. biofuel laws, according to a Reuters review…
China Makes Large U.S. Soy Purchase, While Granting Domestic Subsidies to Its Grain Farmers
Late last week, Reuters writer Karl Plume reported that, “Chinese state-owned importers bought at least eight cargo shipments of U.S. soybeans on Friday, or at least 480,000 tonnes, the country’s largest U.S. soybean purchases in 4-1/2 months, two U.S. traders familiar…
Drought Expands in Iowa, Stressing Crops- as Soybean and Corn Prices Tumble
Donnelle Eller reported on the front page of Friday’s Des Moines Register that, “Last week, Mark Mueller watched from the porch of his northeast Iowa farm as lightning flashed and a storm dropped badly needed rain a few miles away.”
Cargill’s Sanfeliu Sees “Mini-Supercycle” for Crop Markets, as China’s Pig Herd Expands
Bloomberg writers Andy Hoffman and Vanessa Dezem reported this week that, “Two of the world’s top agricultural traders said crop markets are in a ‘mini-supercycle’ that could last half a decade, driven by increased demand for biofuels and continued grains…
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