Reuters Roberto Samora and Ana Mano reported Tuesday that “road and rail links to a major grains port in southern Brazil have been disrupted by the impact of heavy floods, Anec, an association representing global grain exporters including Cargill and Bunge said on Tuesday.” “Rail service to the port has been interrupted while road blockades were […]
Farm Policy News
Ag Losses in Spring Texas Wildfires Top $123 Million
Texas A&M AgriLife’s Blair Fannin reported Monday that “Texas A&M AgriLife Extension Service economists project the Panhandle wildfires caused $123 million in preliminary agricultural losses, making it the costliest on record.” “The losses include more than 12,000 cattle deaths, lost grazing values and fence repair costs, according to economists,” Fannin reported. “The initial loss estimates […]
Brazil Soy Harvest Hit by Floods, Argentina Corn Forecast Cut
Reuters’ Ana Mano and Roberto Samora reported this past Friday that “the outlook for the soybean harvest in Rio Grande do Sul, which was on track to become the second largest producer in Brazil behind Mato Grosso state, is deteriorating swiftly after torrential rains flooded fields, with about a quarter of beans to be reaped.” […]
US Beef, Dairy Products Remain Safe From Bird Flu
*Yesterday’s Farm Policy News Summary incorrectly stated that House Agriculture Committee Democrats had proposed their own Farm Bill. The story has been corrected to say that House Ag Committee Democrats offered a counter proposal to Chairman GT Thompson’s Farm Bill funding proposal. We regret the error. ———————————————————————————————————————————————————————————————————————————————————— Reuters reported that “the U.S. Department of Agriculture […]
House Farm Bill Mark-Up Set for May 23
*This story has been updated to say that House Agriculture Committee Democrats offered a counter proposal to GT Thompson’s Farm Bill funding proposal. An earlier version of this story said House Ag Committee Democrats had proposed their own bill. We regret the error. House Agriculture Committee Chairman Glenn “GT” Thompson said in a press release […]
Biden Admin Releases SAF Tax Credit Rules for Biofuels
Reuters reported Tuesday evening that “President Joe Biden’s administration on Tuesday released guidance on its sustainable aviation fuel (SAF) subsidy program that allows corn-based ethanol to qualify for the program if it is sourced from farms using climate-friendly growing techniques.” “SAF can be made from corn, soy or other agricultural products,” Reuters reported. “But to […]
Argentina’s Rosario Port Falls in 2023 Exports, New Orleans Takes Top Spot
Reuters’ reported late last week that “Argentina’s massive Rosario farming port lost its spot as the world’s No. 2 grains export hub in 2023, a report from a local exchange showed on Friday, underscoring the impact of a historic drought that hammered corn, wheat and soy last year.” “Rosario shipped out 42.4 million metric tons […]
Wheat Futures Erasing Early-Year Losses
Bloomberg’s Áine Quinn and Tarso Veloso reported late last week that “wheat futures traded in Chicago nearly erased losses so far this year, with prices climbing on concerns over weather in key producers. The recovery comes as traders worry that weather in Russia, Europe and the US could impact supplies.” “’Concerns over crop prospects in […]
Ethanol Climate Model Expected Next Week
Reuters reported Thursday that “the Biden administration is expected to release a climate model for its sustainable aviation fuel (SAF) subsidy program on Tuesday, two sources familiar with the matter said. The rule will dictate how ethanol producers can use climate-smart agriculture to qualify for tax credits in the production of SAF. The ethanol industry […]
Canada Concerned Over Bunge, Viterra Merger
Reuters’ David Ljunggren and Rod Nickel reported that “Canada’s Competition Bureau on Tuesday said it found major competition concerns around U.S. grains merchant Bunge’s proposed acquisition of Glencore-backed Viterra, throwing an obstacle before a global agriculture merger that is unprecedented in dollar value.” “The deal would create a company worth $34 billion including debt, nearer […]
Common Antiviral Meds Can Treat Bird Flu in Cattle
Successful Farming’s Chuck Abbott reported Tuesday that “testing has confirmed that antiviral medications used against the seasonal flu would be effective against the H5N1 bird flu virus that also infects dairy cattle, said the Centers for Disease Control. The USDA said on Monday the virus has been confirmed in 33 dairy herds in eight states […]
Farmers Oppose Koch Acquisition of Iowa Fertilizer Plant
The Des Moines Register’s Donnelle Eller reported Sunday that “Iowa farmers told a federal trade leader this weekend that the agency should block the $3.6 billion sale of the Iowa Fertilizer Co. to Koch Industries, saying it will further consolidate the industry and drive prices higher.” “Several of the roughly 100 Iowa, Minnesota and Missouri […]
Fed’s April Ag Economy Observations
The Federal Reserve Board on Wednesday released its April 2024 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. While the report covers generalized “regional economic conditions and prospects,” it also includes the following observations pertaining to the U.S. agricultural economy. Sixth District — Atlanta “Agricultural conditions showed modest […]
Farm Bill Draft Expected by Memorial Day
E&E News’ Marc Heller reported earlier this week that “House Agriculture Chair Glenn Thompson said Tuesday he’ll release a farm bill draft within a month and have it ready for the panel’s consideration before Memorial Day.” “By setting a target date before the May 27 holiday, Thompson (R-Pa.) set the stage for the five-year bill’s […]
China Beef Demand, Pork Output Fall
Bloomberg’s Clarice Couto and Gerson Freitas Jr. reported earlier this week that “China’s beef imports are dwindling amid slowing consumption and ample domestic supply, dealing a blow to its biggest supplier Brazil.” “Official data show the value of China beef imports fell last year for the first time since at least 2016, with prices plunging […]
US Ag Emissions Lowest Since 2012
The American Farm Bureau Federation’s Daniel Munch reported Tuesday that a new study from the US Environmental Protection Agency showed that “U.S. agriculture represents just under 10% of total U.S. emissions when compared to other economic sectors. Overall U.S. greenhouse gas emissions increased from 2021 to 2022 by 1.3%, though agricultural emissions dropped 1.8% – […]
Ukraine Walked Away From New Black Sea Grain Deal
Reuters’ Guy Faulconbridge and Tuvan Gumrukcu reported Monday that “Russia and Ukraine negotiated for two months with Turkey on a deal to ensure the safety of shipping in the Black Sea and reached agreement on a text that was to be announced by Ankara but Kyiv suddenly pulled out, four people familiar with the matter told […]
Community Benefits Agreement Reached for Nebraska Pipeline Project
The Iowa Capital Dispatch’s Paul Hammel reported last week that “the developer of a carbon-dioxide pipeline (across Nebraska) and an environmental group have struck a ‘one-of-a-kind’ agreement to ensure ‘community benefits’ from the pipeline as well as support for the project.” “Kansas-based Tallgrass, which is converting a 392-mile-long natural gas pipeline to transport CO2, announced […]
April WASDE Makes Few Changes
The April World Agricultural Supply and Demand Estimates (WASDE) Report was relatively light on changes yesterday, with the USDA only slightly lowering domestic corn ending stocks for the 2023/24 marketing year and slightly increasing domestic soybean ending stocks. United States corn ending stocks are now estimated at 2.122 billion bushels, down 50 million bushels from […]
Republicans Propose Crop Insurance Subsidy Boost
Successful Farming’s Chuck Abbott reported Wednesday that “Republicans on the Senate Agriculture Committee proposed a $4 billion injection into the crop insurance program so that the government would pay a larger share of the premiums on policies offering the highest levels of coverage.” The plan, known as the FARMER Act, “was estimated at $4.2 billion […]