Corn futures contracts ended the day sharply lower after Department of Agriculture officials raised 2019/2020 corn yield estimates while lowering soybean yield estimates in the World Agricultural Supply and Demand report Thursday.
A five-year, USDA-funded study says that producers can’t get the insurance coverage they need either because it’s unavailable for their particular crops or won’t cover their losses adequately because of the conservation practices they follow.
The Trump administration is out with a plan to address concerns over the use of biofuel mandate waivers, ending one chapter of the saga but setting the stage for new battles in the ever-turbulent debate.
The Trump administration is set to announce a deal to mitigate concerns over the use of small refinery exemptions from the Renewable Fuel Standard that will reallocate waived gallons to other obligated parties.
As much as growers long for an end to the trade war with China, there are long-term threats to demand for corn, soybeans and other crops that could depress commodity prices for years to come and lead to calls for higher government spending, economists say.
USDA’s Risk Management Agency has issued a clarification of an earlier press release to make clear that farmers will receive a 15% top-up payment on prevented planting indemnities this year if their insurance policies had the Harvest Price Option.