DTN writer Todd Neeley reported this week that, “Small refiners will not receive a rehearing before the entire U.S. Court of Appeals for the 10th Circuit in Denver on a case alleging EPA improperly granted small-refinery exemptions to the Renewable Fuel Standard in 2017 and 2018, the court announced in an order on Tuesday.”
Farm Policy News
Prices for Some Food Staples Increase, as COVID-19 Impacts on Labor Remain a Concern
Bloomberg writers Agnieszka de Sousa, Ruth Olurounbi, and Jen Skerritt reported on Monday that, “As the coronavirus pandemic penetrates more deeply into global supply chains, prices for key staples are starting to soar in some parts of the world.”
Global Food Markets “Well Balanced” During COVID-19 Outbreak, But Trucking Issues a Concern
The April edition of the Market Monitor, a publication from the Agricultural Market Information System (AMIS), stated that, “Despite much uncertainty caused by the rapid spread of COVID-19, global food markets remain well balanced: cereal stocks are expected to reach their third highest level on record this season and export availabilities for all AMIS crops are more than adequate to meet the anticipated demand.”
COVID-19 Impacting Food Purchasing Dynamics, as Ag Labor Concerns Persist
Wall Street Journal writer Kirk Maltais reported this week that, “Consumers’ rush to buy groceries is fueling a rally in orange-juice prices, making the usually sedate asset the best-performing commodity in the first quarter of 2020.”
During COVID-19 Outbreak, Some Countries Restrict Ag Exports– WTO / UN Stress Importance of Keeping Supply Chains Open
Wall Street Journal writers Kirk Maltais and Joe Wallace reported this week that, “Consumers are loading up on pasta, rice and bread. Farm supply lines are disrupted. Countries are restricting agricultural exports.”
COVID-19 and Oil Prices Taking Toll on Ethanol Plants
Bloomberg writers Isis Almeida, Fabiana Batista, and Michael Hirtzer reported on Friday that, “The coronavirus and cheap oil are hitting the fuel business so hard that ethanol plants are shutting down. Some may never come back.”
Federal Stimulus Includes Money for Agriculture, as Farm Suppliers Accelerate Planting Input Deliveries
Wall Street Journal writers Siobhan Hughes and Natalie Andrews reported on Friday that, “President Trump signed a roughly $2 trillion stimulus package into law, hours after House lawmakers hustled back to the Capitol to pass the aggressive response to the coronavirus pandemic that has staggered the U.S. economy.”
Despite Ample Global Supplies, Concerns About “Food Nationalism,” and Supply Chain Restrictions Amid COVID-19 Outbreak
Earlier this week, Bloomberg writers Isis Almeida and Agnieszka de Sousa reported that, “It’s not just grocery shoppers who are hoarding pantry staples. Some governments are moving to secure domestic food supplies during the conoravirus pandemic.”
Progress in U.S., China Phase One Trade, as COVID-19 Logistical Hurdles Impact Markets
Reuters writers Andrea Shalal and David Lawder reported this week that, “The United States and China have made progress in implementing the agriculture-related provisions of a Phase 1 trade deal that took effect on Feb. 14, the U.S. Department of Agriculture (USDA) and U.S. Trade Representative said on Tuesday.”
Time Has Run Out for EPA to Appeal 10th Circuit Biofuels Ruling
Reuters writer Richard Valdmanis reported on Wednesday that, “Time has run out for the U.S. Environmental Protection Agency to challenge a federal court ruling that would limit the agency’s use of waivers exempting small oil refineries from the country’s biofuels regulations.”
Farmers Could Encounter Planting Delays in 2020, But Less Severe Conditions Than Last Year Expected
Last week, New York Times writer John Schwartz reported that, “Brace for another flooded spring — but not one as bad as last year, forecasters from the National Oceanic and Atmospheric Administration warned on Thursday.”
COVID-19 Has “Dimmed” Economic Prospects for Corn Belt Farmers
Wall Street Journal writers Jacob Bunge, Kirk Maltais, and Jesse Newman reported on Saturday that, “The new coronavirus is dealing another blow to the struggling U.S. agricultural sector, driving down crop and livestock prices and threatening labor shortages for farms.”
COVID-19 Impacts: Plenty of Food “In the System,” But Guest Worker Concerns Persist
Ryan McCrimmon and Catherine Boudreau reported on Wednesday at Politico that, “Don’t be fooled by the barren grocery store shelves: There’s plenty more food on the way.”
Seasonal Labor, Transportation, Financing, and Food Inflation (China) Among Outbreak Issues in U.S. and Abroad
Reuters writer Chris Walljasper reported on Tuesday that, “U.S. fruit and vegetable producers are bracing for dramatic disruptions to their labor force after the U.S. government said it was suspending visa interviews in Mexico to reduce the spread of the coronavirus.”
During Outbreak, USDA Ensures Food Safety While Protecting Health of Inspectors
Reuters writer Tom Polansek reported this week that, “The U.S. Department of Agriculture is seeking to reassure meat producers it will keep slaughterhouses staffed with federal inspectors as fears about potential shutdowns due to the new coronavirus hammer livestock prices and fuel concerns about food supplies, meat industry groups said on Monday.”
Farm State Lawmakers Maintain that Court’s RFS Waiver Decision Should Stand
DTN Ag Policy Editor Chris Clayton reported last week that, “Sen. Chuck Grassley, R-Iowa, stressed to reporters Tuesday morning [March 10th] that President Donald Trump would benefit in rural America if he simply let stand the 10th Circuit Court of Appeals decision last month against EPA’s small refinery exemption program.”
Coronavirus Increases Challenge of a Demand Bounce, and Phase One Purchase Targets
Bloomberg writers Lydia Mulvany and Michael Hirtzer reported last week that, “In times of economic woe, one of the first luxuries to go is beef. That old adage is so far proving to be true as the global coronavirus outbreak dents demand.”
Federal Reserve: Observations on the Ag Economy- February 2020
Last week, the Federal Reserve Board released its February 2020 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. The report included several observations pertaining to the U.S. agricultural economy.
RFS Turmoil Persists as Administration Requests Additional Time to Consider Ruling
Bloomberg writer Jennifer A Dlouhy reported on Friday that, “President Donald Trump’s decision to defend the U.S. government’s power to broadly exempt oil refineries from biofuel-blending requirements is triggering a backlash in Iowa and other states that are top producers of ethanol and the corn used to make it.”
Multiple Dynamics at Play as Observers Assess Trade One Commitments by China
Bloomberg writer Isis Almeida reported last week that, “Crop traders obsessing over the deadly coronavirus in China may be overlooking another key challenge to the Trump administration’s phase one trade deal: the U.S. dollar.”