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Shining Light on Farm & Food Policy for 20 Years.
Sunday, May 19, 2024
The USDA Monday cut its forecast for U.S. soybean yields and production in its monthly crop report, catching the market by surprise and sending futures prices higher.
Texas farmers are facing a drought that will all but eliminate the hopes of many for a good cotton crop in 2022 as attention turns to topsoil conservation measures that producers hope will allow them to try again next year.
The forecast for U.S. wheat production got a boost Tuesday with bigger estimates for spring and durum, but global supplies are expected to remain at their lowest level since the 2016-17 marketing year, according to USDA's latest World Agricultural Supply and Demand Estimates report.
The USDA said Friday bumped up its forecast for U.S. soybean exports and dropped its prediction for ending stocks as Chinese demand remains strong and competition from Brazil is less than expected.
A flurry of Department of Agriculture reports Wednesday showed bin-busting production of corn, sorghum, soybeans and cotton took place in 2021, largely matching what traders were expecting to see.