Reuters’ Karen Braun reported Wednesday that “benchmark industry estimates of top exporter Brazil’s soybean crop have deviated even further from each other this month following a season blemished by questionable weather. That same controversy may be brewing for the country’s corn crop, especially with unfavorable conditions potentially on tap for Brazil’s top production state.” Despite […]
Farm Policy News
ADM Overstated Nutrition Profits by Up To 10%
The Financial Times’ Stephen Foley reported Tuesday that “Archer Daniels Midland, the global agricultural commodities merchant, overstated historical profits at its fast-growing nutrition business by up to 10 percent, it said on Tuesday, setting out for the first time the details of an accounting probe that led to its chief financial officer being put on […]
‘Product of USA’ label restricted to US-grown meat, poultry and eggs
Reuters’ Leah Douglas reported that “the administration of U.S. President Joe Biden on Monday finalized a rule requiring meat, poultry, or eggs labeled as a U.S. product to come from animals born, raised, slaughtered, and processed in the country.” “The rule, proposed last March, is a victory for U.S. ranchers who argued for years that […]
Farmers Continue Embracing Solar Panels
Bloomberg’s Ilena Peng, Michael Hirtzer, and Will Wade reported Thursday that “farmers are increasingly embracing solar as a buffer against volatile crop prices and rising expenses. Their incomes are heading for a 26% slide this year, the biggest drop since 2006, as cash receipts for corn, soy and sugar cane are expected to drop by […]
Ag Avoids SEC Emissions Reporting Rule
Progressive Farmer’s Todd Neeley reported Wednesday that “the U.S. Securities and Exchange Commission on Wednesday voted to finalize a climate-disclosure rule that dropped a requirement for U.S.-listed companies to disclose Scope 3 greenhouse gas emissions, including farms and ranches.” “The final rule is considered a victory for farmers and ranchers who spoke out against the […]
WIC and Foreign Ag Land Addressed in Funding Bills
The Hill’s Aris Folley reported on Sunday that “congressional leaders on Sunday finally revealed long-awaited bipartisan bills to fund parts of the government for most of the year, setting off a bicameral sprint to avert looming shutdown threat in less than a week. ” “The weekend rollout entails six full-year spending bills to fund a […]
Drought Ends Along Mississippi River, For Now
WorkBoat’s Pamela Glass reported last week that “the U.S. Army Corps of Engineers has officially declared an end to the severe drought that disrupted barge transportation along the Mississippi River system for more than a year.” “Draft restrictions on vessels have been lifted, and dredges no longer operate to maintain nine-foot navigation throughout the Mississippi […]
Spring Crop Insurance Projected Prices Fall
Progressive Farmer’s Katie Micik Dehlinger reported Thursday that “the corn projected price for 2024 revenue protection policies is 27% lower than last year at $4.66 per bushel, while the soybean projected price is 16% lower at $11.55. Projected prices for spring wheat are $6.85, 30% lower than last year.” “Revenue protection crop insurance policies won’t […]
USDA Raises 2024 Export & Import Forecast
The United States Department of Agriculture this week raised its fiscal year 2024 agricultural export and import forecasts by $1 billion each, holding steady its estimate of a $30.5 billion U.S. ag trade deficit in 2024. Fiscal year 2024 exports are now forecast at $170.5 billion, while imports are estimated at $201.0 billion. An ag […]
Wildfires Threatening Texas Ag Producers
NBC News’ Patrick Smith reported Wednesday that “Texas farmers and ranchers are facing the ‘destruction’ of their livelihoods as a result of wildfires that have continued to rage through the panhandle this week into today, the state’s agriculture commissioner said.” “‘These fires not only threaten lives and property but also have a significant impact on […]
Government Shutdown Looms Amid Crop Insurance Deadline
Forbe’s Simon Moore reported Tuesday that “without passage of a budget or a continuing resolution, four appropriations areas of the U.S. government would shut down at midnight on March 1. This includes Agriculture, Rural Development, and the Food and Drug Administration; Energy and Water Development; Military Construction and Veterans Affairs; and Transportation, Housing and Urban […]
Temperatures Records Likely to be Broken
Fox Weather’s Emilee Speck reported Monday that “hundreds of temperature records – record highs and record-warm lows – are expected to fall through midweek, with Monday and Tuesday forecast to be the warmest days across the Plains and Midwest. On Monday, more than 250 million Americans will experience above-average temperatures.” “According to the FOX Forecast […]
Corn Dropped Below $4 Last Week
Reuters’ P.J. Huffstutter reported that “Chicago Board of Trade corn futures (last) Friday dipped below $4 per bushel in the front-month contract Cc1 for the first time since November 2020, as hefty U.S. and global supplies weighed over the market.” May corn futures prices, however, remained above $4, closing at just above $4.13 last Friday. […]
Brazil, Argentina Crop Production Estimates Cut
Soybean production estimates for Argentina and Brazil, along with corn production estimates for Argentina, were lowered earlier this week by agribusiness consultancy Agroconsult and the Rosario Grains Exchange. “Brazil’s 2023/2024 soybean crop estimate has been reduced to 152.2 million metric tons from the previous estimate of 153.8 million tons, agribusiness consultancy Agroconsult said on Tuesday, […]
Farmer Protests Spread Across Europe
Farmer protests have spread across the European Union — and further — in recent weeks, according to reporting from Reuters’ Sybille De La Hamaide and Gus Trompiz, with farmers “saying they are facing rising costs and taxes, red tape, excessive environmental rules and competition from cheap food imports.” “Demonstrations have been taking place for weeks […]
Year-Round E15 Sales to be Approved for Midwest States in 2025
Reuters’ Jarrett Renshaw and Stephanie Kelly reported Tuesday that “the White House will approve a request from a group of Midwest governors to allow year-round sales of gasoline with higher blends of ethanol (in their states), but will push the start date into next year, two sources familiar with discussions said.” “The decision will likely […]
First Ship Abandoned After Red Sea Attack
Bloomberg’s Omar Tamo, Mohammed Hatem, and Alex Longley reported Monday that “the crew of a commercial ship in the Red Sea abandoned the vessel following a Houthi attack — the first such evacuation since the militant group began menacing trade in the vital waterway late last year.” “The strikes on the Rubymar, a relatively small […]
Biden Admin to Back Tougher Ethanol Climate Model
Reuters reported Friday that “President Joe Biden’s administration is poised to announce an adjustment to its scientific modeling for ethanol that will show the corn-based fuel to be less effective at reducing greenhouse gas emissions than previously estimated, three sources briefed on the plans told Reuters.” “The adjustment, previously unreported, will make it more difficult […]
USDA Projects Decreased 2024 Planted Acreage
The United States Department of Agriculture reported Thursday that “initial expectations for 2024 planted area are for a decline in total planted area of corn, wheat, and soybeans relative to the previous year. Combined acreage for the three crops is projected at 225.5 million acres — a decline of about 1 percent reflecting expectations of […]
Crop Insurance Costs Projected to Jump 29%
Successful Farming’s Chuck Abbott reported Tuesday that “the federally subsidized crop insurance program will cost an additional $27.7 billion over the coming decade, said the Congressional Budget Office in projections released on Monday. The government pays roughly 62¢ of each $1 in premiums, and sales of livestock and forage policies are exploding.” “Crop insurance costs […]