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USDA took a key step Thursday in rolling out its new $1.3 billion international trade initiative, the Regional Agricultural Promotion Program, and unveiled plans for trade missions next year to Vietnam, India, South Korea, Canada, Colombia and Morocco.

The Agriculture Department on Thursday raised its yield estimates for corn and soybeans and predicted stronger production for both commodities in its November crop report.

The Agriculture Department has a lot of services, funding and tools for specialty crop farmers – including a new $100 million program to help producers sell their crops overseas – and the USDA wants to make sure that those farmers take advantage of them, Deputy Secretary Xochitl Torres Small told reporters Thursday.

Strong global demand for agricultural commodities will put more pressure on limited phosphate and potash supplies and strengthen fertilizer prices in 2024, Mosaic CEO Joc O’Rourke said Wednesday.

The Commerce Department is sharply cutting its duty on Moroccan phosphate fertilizer products to just 2.12%, spurring optimism that imports will resume and provide American farmers with more supply options and better prices.